I'd like to start by thanking the Finance and Treasury Association for the opportunity to speak to you today about the transmission of monetary policy. In my current position at the Reserve Bank I oversee the Financial Markets Group. Among other things, we spend our time analysing financial market developments, around the globe and in Australia. A key task is to consider the ways in which monetary policies are affecting economic developments. The first stage of that transmission is the effect of policies on financial conditions. The second stage of transmission – which I won't address today – is how those financial ... (full story)