University of Queensland Economics Professor John Quiggin says he has been concerned the inflation targeting regime used by the Reserve Bank of Australia is “no longer fit for purpose”, ahead of the central bank’s first review in decades.
“I certainly would like to see that issue addressed,” Prof Quiggin told Sky News Business Editor Ross Greenwood.
“And in that context, we are much likely to get an open discussion if the panel, the review panel, has a great credibility of its own some strong economists. “Rather than for example if it … had leading business people for example who might do a good job in many respects but wouldn’t be equipped to challenge the views of the bank.”
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