Date of publication: 2017-09-05 01:10
The Corporate Plan outlines the key functions and purposes of the Reserve Bank and the Bank s assessment of its operating environment, how it will measure and assess its performance, and the key strategies and plans it will implement.
Research Discussion Papers contain the results of economic research within the Reserve Bank. They are issued throughout the year, with summaries periodically reproduced in the Bulletin.
To keep the economy ticking along, five of 78 forecasters surveyed by Bloomberg are now beginning to predict a cut within the next year, as house prices begin to cool in the overheated eastern housing markets.
Dwelling prices fell by per cent in Melbourne and per cent in Sydney, during the seasonally weak month of May according to property monitor Core Logic.
But several banks have revised down their forecasts ahead of the release of the national accounts, with the Commonwealth Bank predicting growth of just per cent. The National Australia Bank has forecast a negative result of - per cent.
Treasurer Scott Morrison has warned the economy's future is not yet secure as Australia prepares to stumble across the line on Wednesday to grab the world record for the longest period of consecutive growth.
Figures released on Tuesday showed Australia's current account [the difference between all imports and exports] recorded the smallest deficit in 65 years, but it may not be enough to stave off only the fourth quarter of negative growth since the recession of the early 6995s.
"Of most significance to our GDP forecasts, government spending numbers released today disappointed badly," said JP Morgan's Tom Kennedy. "Government consumption rose just 6 per cent quarter on quarter, and more significantly, public capital expenditure posted a large decline of per cent."
"This more conservative forecast is broadly consistent with the Reserve Bank, international organisations and private sector economists," he said. "These are all reasons to be more optimistic about the days ahead, but such days must be secured."
Awarded an Order of Australia, the sister of actor Samuel Johnson raised millions of dollars for cancer research during her long battle with the disease. Vision courtesy: Ten News.
Minutes of the monetary policy meetings of the Reserve Bank Board are published two weeks after each meeting, and explain the monetary policy decision. The Reserve Bank Board normally meets eleven times each year, on the first Tuesday of each month, except January.
"If this recent slowing develops into a more sustained trend, the Bank may be able to consider alternative scenarios to a steady cash rate," said CoreLogic's head of research, Tim Lawless.
"The release of the data on exports and government investment in the first quarter has led us to revise down our forecast for gross domestic product growth in the first quarter from per cent to - per cent," said Capital Economics Chief Australia & New Zealand Economist Paul Dales.