RBA's Edey on the Australian economy

In the speech 'The Australian economy - Prospects for 2006 and beyond' given on 24 February Malcolm Edey of the RBA said business was currently undergoing a major upswing, having expanded by 18 per cent over the past year.

"Businesses at the moment have strong balance sheets and they are well-placed to take advantage of the current favourable conditions," he said.

"Not surprisingly, the growth has been led by the resources sector."

"But given the high level of capacity utilisation across the

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