Business
RBA minutes reveal early easing flip – The Australian Financial Review
The Reserve Bank’s decision to change monetary policy was partly driven by Victoria’s prolonged lockdown and a strong Australian dollar.
In a move away from its standard practice, Dr Lowe said in the speech he then delivered last week that the central bank would now focus more on actual economic indicators instead of targeted forecasts when deciding on monetary policy.
“We will now be putting a greater weight on actual, not forecast, inflation in our decision-making,” Dr Lowe said. “We want to see more than just progress towards full employment.
A few hours after Dr Lowe’s speech the official unemployment rate landed just below…
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