The Bank will publish its full updated assessment in its Statement on Monetary Policy on 7 November 2005. Conclusion The Australian economy is in its fifteenth year of expansion, having weathered a number of shocks, both favourable and adverse, during that time. The gradual correction of the housing excesses of the early part of this decade has gone well so far.
It is our good fortune that this is unfolding alongside a global scene which is quite favourable at present.