Fed: GDP result a postive outcome for Aust: Swan=4

AAP General News (Australia)
12-03-2008
Fed: GDP result a postive outcome for Aust: Swan=4

"We have a strong, well-regulated financial system and plenty of policy ammunition,"

Mr Swan said.

All arms of policy had been directed towards buffering the economy "from the worst
that the world can throw at us".

The economic security strategy payments to be made this month and deep cuts in interest
rates would provide relief for families and business and protect jobs, he said.

"I think Australians can take heart that their government and the Reserve Bank are
working in tandem to strengthen the economy and to protect jobs."

The economy had slowed considerably since the beginning of the global financial crisis,
warning that there was likely to be further fallout.

"This will be a long protracted global financial crisis and it may well have a long
way to run," he said.

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KEYWORD: GDP SWAN 4 CANBERRA

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