When considering the title for our discussion, “capitalising on opportunities in Europe’s financial markets,” my thoughts on the opportunities available are that there are steps that can be taken in the evolution of the European financial system to ensure we have a resilient financial system that can serve households and businesses both in good times and in bad.
In the RBA's central scenario, we are expecting growth of 5 per cent next year and 4 per cent over 2022. These are fast growth rates, but because of the size of the fall in the first half of this year it will take until the end of 2021 for us to reach the level of output at the end of last year.