February 21, 2019 / 11:09 PM / in 2 months

No 'dramatic effect' on economy from China port ban on Australian coal-RBA

SYDNEY, Feb 22 (Reuters) - A reported ban on Australian coal imports into China’s northern port of Dalian will not have a “dramatic effect” on the local economy, Reserve Bank of Australia (RBA) Governor Philip Lowe said on Friday.

Reuters reported on Thursday that customers at the Chinese port had banned imports of Australian coal since the start of February, knocking the Australian dollar down more than 1 percent on concerns about tension with Australia’s biggest trading partner.

Lowe said he would not jump to conclusion the move was aimed at Australia, while adding that many other countries buy Australian coal, which is the country’s top export earner. (Reporting by Swati Pandey and Wayne Cole; Editing by Tom Brown)

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