World Economy

Global CBs Embrace A$

Global CBs Embrace A$Global CBs Embrace A$

It’s a vote of confidence Reserve Bank of Australia Governor Glenn Stevens would really rather not have right now, Reuters reported. His global peers have been buying Australian government bonds, drawn by its gold-plated credit rating and yields that are positively sumptuous compared to the sub-zero fare on offer in Europe and Japan. But all this demand, combined with the aggressive easing policies of these same central banks, is pushing up the Australian dollar and threatening to throttle a much-needed revival in export sectors such as tourism and education.