RBA's Macfarlane on recent economic developments

In the speech 'Some observations on recent economic developments' given on 13 December, Ian Macfarlane of the Reserve Bank of Australia said the Australian economy is more resilient and able to adjust to economic shocks as global interest rates rise across the world.

"With only limited and manageable increases in overall inflation throughout the world, monetary tightenings specifically directed at oil-price-instigated inflation have not been needed," he told an Australian Business Economists

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