Minutes of the Monetary Policy Meeting of the Reserve Bank Board

From rba.gov.au

Members commenced their discussion of the global economy by noting that GDP growth in most of Australia's major trading partners had remained above trend. Monetary policy settings had continued to be accommodative in most economies, although a few central banks had become less accommodative as spare capacity was absorbed and inflationary pressures had become more apparent. Growth in global industrial production had been robust, particularly in the United States, euro area and smaller east Asian economies (that is, excluding Japan and China). Growth in global merchandise trade had eased to around its decade average. ... (full story)