In the Statement last week, the Bank published its updated forecasts for the next few years. The central forecast is for the Australian economy to expand by around 3¼ per cent over 2010, before growth picks up to be in the 3¾–4 per cent range over the next couple of years (Graph 6).
First, financial exclusion has fallen since 2007 from 51% and it now stands at 31%. This progress is a result of the effectiveness of Government policy and concerted efforts by the financial services industry to bring services to the doorsteps of the previously unsaved and underserved people. 5.