This framework has served Australia well for more than two decades now. And, in my view, it remains the right monetary policy framework for Australia. This might all be less tightly defined than some people would like. But given the uncertainties in the world, something more prescriptive and mechanical is neither possible nor desirable. Inevitably, judgement has to be exercised.
As a result of the world economic upturn, diamond production has resumed in response to a steady revival of overseas demand for rough diamonds; and it is expected that this trend will continue in the second half of the year.