In 2022, the Reserve Bank continued to increase interest rates to try to curb inflation, and hinted at a possible recession on the horizon. It was therefore more critical than ever to hear from Australia’s central bank on the economic outlook and Australia’s place in the global economy.
The Annual Dinner address by Reserve Bank of Australia Governor, Philip Lowe, shared why inflation might be more variable over the years ahead and the implications of this for economic policy.
"As we take our decisions over coming meetings, we will be paying close attention to developments in the global economy, the evolution of household spending and wage and price setting behaviour. Developments in each of these three areas will affect the pace at which inflation returns to target and whether the economy can remain on an even keel over the next couple of years."
The Annual Dinner address by Reserve Bank of Australia Governor, Philip Lowe, shared why inflation might be more variable over the years ahead and the implications of this for economic policy.
"As we take our decisions over coming meetings, we will be paying close attention to developments in the global economy, the evolution of household spending and wage and price setting behaviour. Developments in each of these three areas will affect the pace at which inflation returns to target and whether the economy can remain on an even keel over the next couple of years."
