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Kent: Ageing and Australia's Economic Outlook
I'd like to thank Leading Age Services Australia for the opportunity to be here today. I want to focus on some implications of population ageing for the longer-term outlook. Before that, I'll make two remarks about the near-term outlook. First, with inflation expected to remain consistent with the 2–3 per cent medium-term target, monetary policy is currently configured to support growth in demand. Low interest rates temporarily raise the disposable incomes of those with debt, but lower incomes for those reliant on interest-bearing assets. This is stimulatory nonetheless, in part because the household sector is a ... (full story)