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Opening statement - House of Representatives Standing Committee on Economics

· Michele Bullock, Governor of the Reserve Bank of Australia (Australia)

Summary written by Dark Majestic in its own words · topics: inflation and price stability

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· Michele Bullock Wiki · Reserve Bank of Australia WikiOpening statement - House of Representatives Standing Committee on Economics

ContextOpening statement by Michele Bullock, Governor of the Reserve Bank of Australia, to the House of Representatives Standing Committee on Economics, Canberra, 16 August 2024.

Why it mattersThe RBA governor tells lawmakers that policy stays restrictive until inflation is on track.

Problems raised
  1. Upside inflation risks remain.
  2. The future is uncertain.
  3. Forecasts can err.
Solutions proposed
  1. Keep policy restrictive until inflation is on track.
  2. Be humble about forecasts.
  3. Use diverse models and challenge.
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