Members noted that recent data indicated more positive global conditions, on balance, than some months ago. Growth in Australia's major trading partners strengthened in the December quarter, despite a decline in activity in the advanced economies. Indicators suggested that growth of the Chinese economy had stabilised at a sustainable pace, although activity data were limited over the past month and the available data were difficult to interpret owing to the Spring Festival holiday. The Chinese authorities had expressed some concerns about the pace of house price growth. Financial conditions in China remained ... (full story)