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Reserve Bank of Australia (RBA)



(RBA) Monetary Policy Statement by Glenn Stevens, Governor - 1 September, 2009 Print E-mail
RBA | Written by Reserve Bank of Australia | Sep 01 09 06:03 GMT
At its meeting today, the Board decided to leave the cash rate unchanged at 3.0 per cent. With considerable economic policy stimulus in train around the world, the global economy is resuming growth. Growth in China has been very strong, which is having a significant impact on other economies in the region and on commodity markets. The major economies appear to be approaching a turning point. Most observers still expect only modest growth in the world economy in 2010, due to the continuing legacy of the financial crisis, though forecasts have been revised up recently.
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(RBA) Monetary Policy Statement by Glenn Stevens, Governor - 4 August, 2009 Print E-mail
RBA | Written by Reserve Bank of Australia | Aug 03 09 23:45 GMT
With considerable economic stimulus in train around the world, the global economy is stabilising after an earlier sharp contraction in demand. Downside risks to the global outlook have diminished, though they have not disappeared and most observers expect only modest growth overall. There is tentative evidence that the US economy is approaching a turning point, but conditions in Europe are still weakening. Growth in China, in contrast, has been very strong in recent months, which is having an impact on other economies in the region and on commodity markets.
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(RBA) Monetary Policy Statement by Glenn Stevens, Governor - 7 July, 2009 Print E-mail
RBA | Written by Reserve Bank of Australia | Jul 07 09 00:27 GMT
At its meeting today, the Board decided to leave the cash rate unchanged at 3.0 per cent. The global economy is stabilising, after a sharp contraction in demand during the December and March quarters. Downside risks to the outlook have diminished, with conditions in global financial markets improving this year and action to strengthen balance sheets of key financial institutions under way. Growth in China has strengthened considerably, which is having an impact on other economies in the region, including Australia.
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(RBA) Reserve Bank of Australia Minutes of the Monetary Policy Meeting of the Board, Jun 16, 2009 Print E-mail
RBA | Written by Reserve Bank of Australia | Jun 15 09 20:33 GMT
Before reviewing the latest indicators of activity in the key economies, members noted that only a small number of countries had recorded growth in real GDP over the past six months, with many countries experiencing large falls. For the world as a whole, GDP outcomes were not likely to be as weak over coming quarters as they were in the December 2008 and March 2009 quarters.
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(RBA) Monetary Policy Statement by Glenn Stevens, Governor - 2 June, 2009 Print E-mail
RBA | Written by Reserve Bank of Australia | Jun 02 09 01:16 GMT
At its meeting today, the Board decided to leave the cash rate unchanged at 3.0 per cent. Evidence has continued to emerge that the global economy is stabilising, after a sharp contraction during the December and March quarters. The considerable economic policy stimulus in train in most countries is helping to contain the downturn, and should support an eventual recovery. The turnaround is clearest in China and some other emerging countries. Recovery in the major countries is likely to take longer to begin and be slower when it does occur.
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(RBA) Monetary Policy Statement by Glenn Stevens, Governor - 5 May, 2009 Print E-mail
RBA | Written by Reserve Bank of Australia | May 05 09 00:23 GMT
At its meeting today the Board decided to leave the cash rate unchanged at 3.0 per cent. The global economy contracted further during the first few months of this year. While the near-term outlook remains weak, there are further signs of stabilisation in several countries. The Chinese economy in particular has picked up speed in recent months and many commodity prices have firmed a little. The considerable economic policy stimulus in train in most countries should help contain the downturn and support an eventual recovery.
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(RBA) Reserve Bank of Australia Minutes of the Monetary Policy Meeting of the Board, 7 April 2009 Print E-mail
RBA | Written by Reserve Bank of Australia | Apr 20 09 23:29 GMT
The economic data that had been released over the past month indicated that the sharp decline in output recorded in many economies in the December quarter had probably been repeated in the March quarter. Output in Australia's trading partners, weighted by their share in world GDP, therefore appeared likely to have declined by around 3 per cent over the year to the March quarter. Revised forecasts from international agencies such as the IMF and OECD now showed an expected fall in output in 2009, for the first time in at least 60 years. The IMF forecasts were for growth of around 2 per cent in 2010, which implicitly assumed a return to growth in the second half of 2009. The latest global growth forecasts of the Bank's staff were more pessimistic for the current year.
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(RBA) Monetary Policy Statement by Glenn Stevens, Governor - 7 April 2009 Print E-mail
RBA | Written by Reserve Bank of Australia | Apr 07 09 01:04 GMT
At its meeting today, the Board decided to lower the cash rate by 25 basis points to 3.0 per cent, effective 8 April 2009. Recent information from abroad indicates that the contraction in the global economy continued during the first few months of this year, and most assessments of the near
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(RBA) Monetary Policy Statement by Glenn Stevens, Governor - 3 March 2009 Print E-mail
RBA | Written by Reserve Bank of Australia | Mar 02 09 23:06 GMT
At its meeting today, the Board decided to leave the cash rate unchanged at 3.25 per cent. Recent data confirm that the world economy has remained very weak following the sharp decline in demand that occurred late last year. The major industrial economies reported large contractions in output in the December quarter, as did a number of emerging market economies across Asia and eastern Europe. Many countries are likely to be experiencing further falls in output in the current quarter.
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(RBA) Glenn Stevens - Opening Statement to House of Representatives Standing Committee on Economics Print E-mail
RBA | Written by Reserve Bank of Australia | Feb 20 09 03:35 GMT
Shortly after the Committee last met, the global financial system took a serious turn for the worse. On 15 September 2008, the American firm Lehman Brothers filed for bankruptcy. It was the biggest actual failure of a major American financial institution for many years. While it had been widely known that Lehmans was under immense pressure, when it came the event was still a shock. It triggered a massive re-appraisal of risk, and ushered in a period of the most intense financial turmoil seen in decades.
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