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RBA: Statement on Monetary Policy
The global economy is continuing its expansion, although the pace of growth has slowed recently. This moderation in growth partly reflects disruptions to global supply chains following the Japanese earthquake, but there has also been a broader slowdown in a number of economies. Growth remains robust though in most of Asia, including China, with domestic demand growing strongly and unemployment rates trending lower. While the central scenario of most forecasters remains for growth to be at, or above, average over the next year or so, the downside risks to this outlook have increased. Over recent months, the economic ... (full story)