I would like to do the same again today. Twelve months ago, I reminded you that we do not have a crystal ball that can be used to see the future with certainty. Since then, some things have turned out as expected, but there have been plenty of surprises as well. No doubt, the same will be true this year.
Today, though, I would like to talk about the Reserve Bank's central scenario for the global and Australian economies and some of the factors that we will be watching over the year ahead. I would also like to touch on monetary policy.