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RBA Stevens: Economic Conditions and Prospects
It is a great pleasure to be in Brisbane once again. Yesterday the Board, at its monthly meeting, left the cash rate unchanged. I don't propose to comment about yesterday's decision in particular, or to send any particular messages about the next decision. Instead I want to step back to look at the broader picture. The economy grew at about its long-term average rate in 2012, but more of that growth was in the first half of the year than the second. According to the latest national accounts, growth in real GDP has been running at an annualised pace of about 2½ per cent over the past three quarters. Our guess is that ... (full story)
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I'm not trying to convince anyone. I'm not in the "convincing" business.
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I'm not trying to convince anyone. I'm not in the "convincing" business.