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The costs of high inflation

· 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 WikiThe costs of high inflation

ContextKeynote address by Michele Bullock, Governor of the Reserve Bank of Australia, to the Anika Foundation Fundraising Lunch, Sydney, 5 September 2024.

Why it mattersThe RBA governor explains why high inflation hurts and why policy stays tight.

Problems raised
  1. High inflation creates uncertainty.
  2. It makes planning harder.
  3. Past policy failed to curb inflation.
Solutions proposed
  1. Keep flexible inflation targeting.
  2. Explain the costs of high inflation.
  3. Bring inflation back to target.
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