Fed: Sub -prime crisis unlikely to affect business

AAP General News (Australia)
08-17-2007
Fed: Sub -prime crisis unlikely to affect business

Reserve Bank governor GLENN STEVENS says the recent volatility on global markets is
bordering on the irrational.

And Mr STEVENS says Australia's strong economy can resist the sub-prime mortgage crisis
gripping the United States.

He says on the whole .. Australia's corporate balance sheets are very good .. confidence
is high and the economy is flexible.

AAP RTV nt/pjo/wf/rt

KEYWORD: RBA HEARING (GOLD COAST)

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