RBA: Separating "signal" from "noise" in inflation
Estimating underlying inflation is crucial in monetary-policy making that uses "noisy" CPI data in forecasting. In a recent speech Tony Richards, head of economic analysis at the RBA, set out work the central bank has done in this area.
Speaking to Australian business economists on Tuesday, Richards considered four broad questions in his speech: what is underlying inflation, and why is it important? Second, what are some different ways of estimating underlying inflation? Third, how well do some
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