Opinion
The RBA has more to worry about than just inflation
Monetary policy is now more than ever just a wealth redistribution policy in Australia, just ask Baby Boomers.
Tim HextAmong the many issues that the Reserve Bank of Australia considers at its meetings, the changing face of monetary policy should occupy its longer-term thinking.
For now, the second-quarter inflation numbers last week seem to have silenced the shrill chorus of inflation hawks calling for the Reserve Bank to lift rates. The third-quarter headline inflation number could even be flat, given generous electricity subsidies from the federal and state governments.
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