Members were briefed that the staff forecast for growth of Australia's major trading partners was little changed since the February Statement on Monetary Policy, with growth in 2014 and 2015 still expected to be around its long-run average pace. They noted that the slight moderation in growth of Australia's major trading partners in the March quarter was expected to be temporary. In China, GDP growth and other indicators of activity eased a little in early 2014; however, in year-ended terms, growth was still consistent with the government's annual target of 7½ per cent. There were some signs that the recent slowing ... (full story)