We are also aware that our policy to maintain adequate foreign exchange reserves must remain consistent by maintaining macroeconomic stability in the long run. We at Bank Indonesia are clear that maintaining a stable exchange rate and nurturing a favorable climate so as to strike a balance between internal and external balance are pre-requisites to further reduce price sensitivity to exchange rate fluctuations.
Internal balance and structural change I would like to begin this morning by briefly summarising the broad economic outcomes in Australia since I first spoke at this Forum in March 2010. Since that time, output in the Australian economy has increased by 9 per cent. The number of people with jobs has risen by over half a million.