Opinion
The RBA is not failing in its mission to keep inflation under control
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Richard Holden accuses the Reserve Bank of “a long-run abject failure to deliver on its inflation target” (“Tough talk, but RBA board can’t face raising rates”).
Since the inflation target was introduced in the early 1990s, inflation has averaged 2.5 per cent. Over the past decade, it has also averaged 2.5 per cent. How much closer to the midpoint of a 2-3 per cent target does Professor Holden want?
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