Reserve Bank of Australia - Annual Report 2004

The Reserve Bank of Australia has published its Annual Report for 2004. After a temporary weak spot in the middle of 2003, the world economic recovery resumed in 2003/04. In Australia it was a year of good growth and low inflation as we completed the thirteenth year of the current economic expansion, RBA governor Ian Macfarlane said in the foreword.

"In late 2003, when it became clear that the world economic recovery was on track, and the Australian economy was speeding up, the Board took the

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