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has announced the terms of reference of a review of the Reserve Bank of Australia, which will include examining whether changes are needed to the bank’s inflation targets.
This is an important opportunity to ensure that our monetary policy framework is the best it can be, to make the right calls in the interests of the Australian people and their economy. It will also assess the “continued appropriateness of the inflation targeting framework” of the bank, which is set at between 2% and 3%, and which drives the bank’s cash rate decisions.
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