The success of vaccine tests ; Australia’s current strong growth story; and pivots around monetary policy are highly relevant to the market outlook. The approach to monetary policy in Australia is changing. In his speech last Monday, the Governor neatly set out the four aspects of current policy. The nature of forward guidance – “we have now moved to place much more weight on actual outcomes rather than forecast outcomes". A reasonable interpretation here is that particularly due to the combination of globalisation and technology the functioning of labour markets has changed and the need to be pre-emptive with ... (full story)