RBA Stevens: Uncertain how global market turbulence will play out

Reserve Bank of Australia Governor Glenn Stevens, appearing before the House of Representatives' Standing Committee on Economics, keeps crossing the wires.

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Global markets 'dropping their bundle' at the moment

Uncertain how global market turbulence will play out

Says he is surprised at extent of market reaction to China's changes in yuan policy

Says the adjustment in the yuan was quite small

Chinese policy makers cannot fix every problem