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RBA: Double-dip recession is a risk -

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RBA assistant governor Guy Debelle says a broader approach to risk assessment needs to be


LEIGH SALES, PRESENTER: The Reserve Bank isn't ruling out the prospects of a double-dip recession.

The RBA assistant governor Guy Debelle has told a management conference that a broader approach to
risk assessment needs to be developed.

He says lenders have to be more conservative and look beyond recent economic history when
evaluating what could go wrong. And, he was asked about the chances of a double-dip recession.

GUY DEBELLE, ASSISTANT GOVERNOR, RESERVE BANK: It's a risk. It's actually a somewhat unquantifiable
risk, but it's a risk.

LEIGH SALES: Meanwhile, Australia's recorded its smallest current account deficit since the first
quarter of 2002, as commodity exports boost earnings.

Bureau of Statistics figures also show that retail sales rose for the fifth consecutive month in
July and there was a surprise increase in the number of homes approved for construction.