In a speech on 'Economic Conditions and Prospects' given on 17 September, Glenn Stevens of the Reserve Bank of Australia said that the world economy is still not entirely in the clear, but is better than it was, and a fair bit better than it might have been. It is sensible at present to look for further improvement, while keeping in mind the possibility of regression. If things work out acceptably well abroad, the Australian economy will next year have a better chance of balanced growth than we