Sunday, November 01, 2009

It's on: MYEFO tomorrow

That's the Mid Year Economic and Financial Outlook.

Out Monday!

"Tomorrow in Canberra I will release the Mid-Year Economic and Fiscal Outlook, which will update our forecasts for the coming years. Because of the efforts of Australians, combined with the actions taken by the Government and the Reserve Bank, our forecasts for growth and unemployment will be better. Unfortunately, the Budget has still taken a big hit from the global recession, and challenges remain in areas like business investment and the terms of trade, and this will be reflected in MYEFO as well. On Tuesday the Reserve Bank Board will meet for its November monetary policy meeting. RBA Governor Glenn Stevens has previously indicated that rates cannot stay at 50-year emergency lows. The fact that fiscal stimulus has already peaked, and is already tapering away, means that fiscal and monetary support will continue to work together throughout the recovery."

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