RBA reveals brighter growth outlook

The Reserve Bank of Australia (RBA) has increased its estimate for Australian growth in 2012 but identified a number of uncertainties that threaten the positive outlook, according to its latest statement on monetary policy released today (August 10).

The statement, which is published quarterly, said economic growth was above trend in the first half of the year, causing the central bank to increase its overall estimate for growth in 2012 by 50 basis points, to 3.5%. The increase in growth was led