BIS Review 47/2002  3  Diagram 1  Click to view larger Diagram 2  Click to view larger The other thing I would like to mention before I close is another aspect of asset prices.
There is, however, likely to be a noticeable effect across the December quarter last year and the current quarter. While it is still difficult to be precise, we estimate that the effects of the bushfires will reduce GDP growth by around 0.2 percentage points across the two quarters. We are also continuing to assess the effects of the drought on the economy.