RBA Statement on Monetary Policy, February 2005

The Reserve Bank of Australia published its February 2005 Statement on Monetary Policy on 7 February. After a strong year in 2004 the world economy retains momentum, with growth continuing to be led by the United States and China, the report says.

China's economy has become an increasingly important driver of world growth, with last year's growth outcome of nearly 10 per cent exceeding most expectations. In other parts of the world, including Japan and the euro area, the economic recovery is

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