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Inflation and the monetary policy framework

· Philip Lowe, Governor of the Reserve Bank of Australia (Australia)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability

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· Philip Lowe Wiki · Reserve Bank of Australia WikiInflation and the monetary policy framework

ContextSpeech to the Anika Foundation in Sydney; the Reserve Bank of Australia pursues low inflation and full employment and is raising rates.

Why it mattersLowe warns that inflation psychology may shift.

Problems raised
  1. Inflation is high in Australia.
  2. Inflation psychology may shift.
  3. Global uncertainty is large.
Solutions proposed
  1. Raise rates to return inflation to target.
  2. Watch inflation expectations closely.
  3. Review the monetary policy framework.
Read full speech on bis.org ↗

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