November 15, 2012 / 10:46 PM / 5 years ago

IMF says RBA has room to ease policy if needed

WASHINGTON, Nov 15 (Reuters) - The International Monetary Fund on Thursday gave a stamp of approval to Australia’s economic policies, commending the central bank’s easy monetary stance and saying there was room to ease further if needed.

In a summary of its annual review of Australia’s economy, the IMF said its directors also supported the government’s budget-tightening plans.

“They welcomed the intention to maintain budgetary surpluses over the medium term, thus strengthening fiscal buffers against future shocks and the long-term cost of population aging,” the IMF said. “Directors noted nevertheless that, in the event of a sharp deterioration in the economic outlook, and hence revenue underperformance, delaying the return to surpluses could be an option.”

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