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Nominal interest rates around the world have been at record low levels for some years and there has been extraordinary balance sheet expansion by a number of the world's major central banks. Yet, at the same time, inflation rates in most advanced economies remain below target. There are also concerns in some economies that inflation expectations have declined too far and are perhaps stuck at levels that are too low. This is quite a different world to the one that has existed over the past half-century. Indeed, I am the first Governor of the RBA to have taken office where the concern of the day is more that inflation might turn out to be a bit too low rather than a bit too high.


Back on the market dating

Back on the market dating



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