Alan Oster Reserve Quotations

The story is one of continuing boom conditions in mining and very strong nonresidential construction activity. The Reserve Bank is still very much on hold, watching both the inflation outlook and domestic demand.

Business appears increasingly concerned that further weakness is in prospect. The Reserve Bank is very much on hold, weighing the higher inflation reality against the prospect of further slowing in domestic demand and a mild deterioration in the labor market.

The pace of economic activity is continuing to moderate. The Reserve Bank is very much on hold, watching both the inflation outlook and domestic demand over the remainder of 2005 and well into next year.

The near-term inflation outlook will cause the Reserve Bank some short term concern,

The Reserve Bank will continue to monitor higher short-term inflation risks from oil against slowing economic activity. While the bank might engage in occasional bouts of jawboning, we see little prospect of rates moving in either direction for some considerable period.