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Minutes of the Monetary Policy Meeting of the Reserve Bank Board
Members commenced their discussion of the global economy by observing that global GDP growth in 2017 had exceeded the expectations of most forecasters. The pick-up in growth had been synchronised across economies and was likely to be sustained in 2018, supported by accommodative monetary policy across the globe and an upturn in international trade. The increase in demand for traded goods had been broadly based across regions and especially pronounced for commodity exporters. Stronger economic growth had been accompanied by a further tightening of labour market conditions in many economies, and unemployment rates were ... (full story)
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