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RBA Lowe: Low Inflation in a World of Monetary Stimulus
I would like to thank Goldman Sachs for the invitation to speak today. It is a pleasure to be here and be part of your annual Macro Economic Conference. It is perhaps stating the obvious to say that an important part of the macroeconomic environment is monetary policy. The actions of central banks have material effects on financial markets and can shape macroeconomic outcomes. Indeed, over recent decades it became widely accepted that monetary policy was the primary macroeconomic stabilisation tool and that monetary policy could effectively manage the business cycle. From today’s perspective, the picture looks a ... (full story)
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