A narrow path
· Philip Lowe, Governor of the Reserve Bank of Australia (Australia)
Summary written by Dark Majestic in its own words · topics: inflation and price stability, labour markets and jobs
PL · Philip Lowe Wiki · Reserve Bank of Australia WikiA narrow pathContextAddress by Philip Lowe, Governor of the Reserve Bank of Australia, at the Morgan Stanley 5th Australia Summit, Sydney, 7 June 2023.
Why it mattersLowe describes a narrow path to lower inflation without losing jobs.
Problems raised- Inflation is too high in Australia.
- The Board seeks to cut inflation without losing labour market gains.
- Medium-term inflation expectations are not well measured.
Solutions proposed- Navigate a narrow path back to target.
- Tighten further if needed.
- Improve measurement of inflation expectations.
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