Glenn Stevens: Recent economic and financial developments in Australia Opening statement by Mr Glenn Stevens, Governor of the Reserve Bank of Australia, to the House of Representatives Standing Committee on Economics, Finance and Public Administration, Gold Coast, 17 August 2007. *  *  *  Mr Chairman, members of the Committee.
Since we last met in Perth, economic conditions in Australia have strengthened. At the same time, financial markets globally have recently become extremely skittish and there has been a very sharp re-assessment of risk and a sudden desire for liquidity. I will come to the financial market turbulence shortly.