Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said in a scheduled speech in Sydney on Wednesday that the “direct impact of any US tariffs on Australia is likely to be limited.”
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A global trade war would hit activity, but much depends on how China would react.
Australia has strong comparative advantages in raw materials and services.
Flexible exchange rate, independent monetary policy are powerful shock-absorbers.
Impact on Australian inflation ambiguous, could move in either direction.
Wll watch tariff developments closely, ready to respond appropriately.
Rba will respond in either direction, with force if needed, to meet the mandate.
