a.You are required to provide the values of the Australian key economic indicators listed in the table below for the period February 2019 to March 2020 (13 periods). To obtain the past information click https://www.rba.gov.au/education/resources/snapshots/economy-indicators-snapshot/

b.How did the Australian economy fare in the last 12 months in terms of output growth, inflation and unemployment? Describe in detail the movements/trends observed for these variables.

c.On 18 March, 2020, the Reserve Bank of Australia (RBA)'s board called for a special meeting and the minutes of the meeting can be found (https://www.rba.gov.au/monetary-policy/rba-board-minutes/2020/2020-03-18.html). According to the minutes, how is the novel coronavirus (COVID-19) pandemic expected to

i.Affect the global economic outlook? Explain your answer.

ii.Affect Australia's consumer spending and investment spending? Explain your answer.

iii.What monetary policy decision did the board make? Explain the reason for that decision.

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Period Economic Inflation Rate Unemployment Wage Growth Cash Rate Exchange Rate Growth Rate Rate Rate (US$/1AUS$) Feb 2019 Mar 2019 Mar 2020