Fed: Stimulus to continue despite upbeat growth forecasts: Swan

AAP General News (Australia)
08-08-2009
Fed: Stimulus to continue despite upbeat growth forecasts: Swan

The federal government's determined to maintain its stimulus programs .. despite the
central bank indicating for the second time an interest rate rise is looking more likely.

The Reserve Bank's left the cash rate on hold this month at three per cent .. for the
fourth month in a row.

RBA governor GLENN STEVENS said the risk of a recession has abated .. and economic
conditions have improved.

But Treasurer WAYNE SWAN says what the Reserve Bank is saying is there'll be a modest
recovery if the economic stimulus is fully implemented.

AAP RTV saj/wz/rt

KEYWORD: ECONOMY (CANBERRA)

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