STATEMENT ON MONETARY POLICY – NOVEMBER 2007

Contents

Introduction

International Economic Developments

Box A: The Composition of China's Growth

International and Foreign Exchange Markets

Domestic Economic Conditions

Box B: Recent Developments in the Office Property Market

Domestic Financial Markets and Conditions

Box C: Reserve Bank Open Market Operations

Box D: Banks' Funding

Inflation Trends and Prospects

List of graphs

List of tables

The material in this Statement on Monetary Policy was finalised on 8 November 2007. The next Statement is due for release on 11 February 2008.

The Statement on Monetary Policy is published quarterly in February, May, August and November each year. All the Statements are available on the website when released and are reproduced in the following issue of the Bulletin. Expected release dates are advised ahead of time on the Bank’s website. For copyright and disclaimer notices relating to data in the Statement see the Bank’s website.

ISSN 1448–5133 (Print)
ISSN 1448–5141 (Online)