The RBA Governor, Glenn Stevens, is appearing before a parliamentary economic committee this morning and you can read the full text of his speech here.
- 2010 global GDP to be above 4% and current RBA policy is appropriate
- European fiscal tightening will have short-term dampening effect on growth
- Inflation should stay close to present levels through 2011 but topside dangers remain
- Asian growth needs to moderate to avoid over-heating
- Australian GDP to be around 3.5% in 2011 and 2012