RBA's Richards on 'Economy 2006'

In the speech 'Economy 2006' given on 2 March Anthony Richards of the Reserve Bank of Australia said the outlook for the economy was favourable, with above-average world growth ensuring a favourable outlook for investors and commodity producers.

Richards told the Australian Industry Group Conference that he expected households to continue to pare back spending and borrowing to repair their balance sheets as the housing market waned.

"It would not be surprising if there was some tendency for (the

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