It is an honour to be able to continue the tradition of the RBA Governor addressing CEDA’s Annual Dinner. Thank you very much for the invitation. This is the first time in many years that your annual dinner is being held against the backdrop of high inflation. For most of the past decade the issue was that inflation was a bit too low, not too high. And for the couple of decades before that, inflation varied from year to year, but averaged 2½ per cent in Australia. An inflation rate of 7 or 8 per cent was something that was widely thought to be consigned to the history books. So the current bout of high inflation has ... (full story)