There are a large number of factors that the Reserve Bank Board takes into consideration in making its interest rate decision each month, both domestic and global. Today I would like to talk about some of the global influences on domestic monetary policy. As you are well aware, the Australian economy doesn't operate in isolation from the rest of the world. This is also true when it comes to monetary policy. While the goals of monetary policy are very much domestic, in terms of inflation and employment, the influences on the achievement of these goals are both domestic and global. In talking about the global ... (full story)