A particular question here is what rate of output growth in the non-mining-related part of the economy is likely to be consistent with low inflation during the once-in-a-century investment boom that we are now experiencing. And the third issue that I would like to touch on is the recent decisions on monetary policy and the Reserve Bank’s latest forecasts.
During this period the international community has learnt critical lessons and has launched profound adjustments to what has been termed the international financial architecture that is the network of institutions and fora with varying degrees of coordination at the global or sometimes regional level.