Australia economy, banks in focus

|By:, SA News Editor

Australia's economy is capable of stronger growth, according to central bank governor Philip Lowe, but he said lawmakers must first overcome political gridlock over needed economic reforms.

Separately, Moody's has downgraded the long-term credit rating of Australia's "Big Four" banks, saying surging home prices, rising household debt and sluggish wage growth pose a threat to the lenders.

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