Thank you very much to AmCham for giving me the opportunity to speak in my home town of Adelaide. Today I am going to discuss the Bank's assessment of the current economic situation both in the world and in the Australian economy. I will also talk about some of the key uncertainties about the future economic path. In particular I will highlight the tension between labour market data and output data not only here in Australia but also in a number of economies around the world. How that tension resolves in the period ahead will be an important determinant of the future path of monetary policy. The Global Economy I will ... (full story)