RBA Statement on Monetary Policy, November 2004

The Reserve Bank of Australia published its November 2004 Statement on Monetary Policy on 8 November. The Australian economy has continued to perform well during 2004, maintaining a solid pace of expansion and low inflation, the report said.

Business and consumer confidence are at high levels, and there has been some scaling back in the year to date of the excesses in the housing market that had threatened to disrupt the economy last year. The economy has benefited from a generally favourable

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