Reserve Bank of Australia - Annual Report 2005

The Reserve Bank of Australia published its Annual Report for 2005 on 8 September. The period covered by the report was a period of relative calm as Australia's economic expansion continued into its 14th year, RBA Governor Ian Macfarlane said in the foreword.

"Growth in the world economy remained strong and the accompanying rises in commodity prices provided an expansionary backdrop to the Australian economy. At the same time, the most overheated part of the economy - the housing sector -

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