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RBA Governor Lowe Economics Committee 16.9.22: Full Transcript
19 September 2022
Members in attendance: Dr Charlton [by video link], Mr Hamilton, Ms Lawrence, Mr Laxale, Dr Mulino, Ms Payne, Mr Rae [by video link], Ms Spender, Mr van Manen [by video link] and Mr Wolahan
Terms of Reference for the Inquiry:
To inquire and report on: Review of the Reserve Bank of Australia Annual Report 2021
“So the supply side is fixing up, commodity prices have come down, we’re raising interest rates and the global economy is looking a bit fragile. Those things will, I hope and expect, bring inflation down. If all that’s wrong and inflation stays high, then interest rates are going to have to be higher. Really, for the calculations you were just saying, if inflation turns out to be six per cent or seven per cent again next year, interest rates are going to have to be much higher. I don’t expect that to happen, but unexpected things do happen, don’t they?”
Dr Andrew Charlton
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