RTTNews - Tuesday, Reserve Bank of Australia's Governor Glenn Stevens said Australia cannot claim that it has avoided any downturn at all. But he said the downturn may not turn out to be one of the more serious ones of the post-War era, in contrast to the experiences of so many other nations.

...we can much more easily imagine upside risks to the outlook, to balance out the downside ones, than was the case six months ago, he added.

According to Stevens, real challenge in the near term is to ensure ready availability and low cost of housing finance.

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