RBA Statement on Monetary Policy, May 2004

The Reserve Bank of Australia has published its May 2004 Statement on Monetary Policy. The RBA said easing currency woes, a cooling housing market and an improving global economy had improved the prospects for balanced growth. While the risks to the economy have not gone entirely, recent developments suggest that the chances of achieving well balanced growth have improved, the bank said.

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Introduction

Developments so far in 2004 suggest that the inter