Good evening. Thank you for inviting me to speak at this event. It is my first speech as Governor, and a good opportunity to talk about a topic at the core of the Reserve Bank’s responsibilities: monetary policy and the framework within which it is considered. Before I begin, however, I would like to comment briefly on recent monetary policy. As I’m sure you are all aware, the Reserve Bank Board decided earlier this month to keep the cash rate target at 4.1 per cent, where it has been since the most recent rate rise in June. Our focus remains on bringing inflation back to target within a reasonable timeframe, while ... (full story)