BIS Review 78/2001  3  Seventh, the record level of foreign exchange reserves at nearly $ 45 billion on August 24, 2001, stable exchange rate and money market rates provide less risky business environment. Eighth, foodstocks have reached an all-time high, improving food security and immunising the economy from transient supply shocks.
*  *  *  As is now well known, the Australian economy has come through the worst global downturn since at least World War II better than expected, and in sounder shape than most other advanced economies.