Question 3 (i) - Monetary Policy in Australia - suggested words (400) (3 marks) The Reserve Bank of Australia (RBA) prepares a monthly media release outlining their monetary policy decision and providing an overview of current domestic economic and financial market conditions for the Australian economy. Read the following 2 media releases by the Governor of the RBA and answer parts (a) and (b) below. Media Release 3 Nov 2020: Statement by Philip Lowe, Governor: Monetary Policy Decision | Media Releases | RBA Media Release 2 Nov 2021: Statement by Philip Lowe, Governor: Monetary Policy Decision | Media Releases | RBA (a) Compare the position (stance) of Australia's monetary policy in November 2020 and one year later in November 2021 by comparing the measures the RBA has taken to address the economic impact of the Coronavirus pandemic. (b) How does Australia's current and forecasted economic performance compare across the two periods, Nov 2020 and Nov 2021? [Suggestion: Consider Australia's GDP growth, inflation and unemployment indicators]