The Reserve Bank Has Identified the Problem—Will Canberra Listen?

The Reserve Bank Has Identified the Problem—Will Canberra Listen?

Commentary The Reserve Bank of Australia Governor Michelle Bullock has consistently made the point that Australia’s inflation and cost-of-living crisis cannot simply be blamed on conflicts in the Middle East or other overseas events. While global shocks have affected energy markets and supply chains at various times, Bullock has repeatedly indicated that the inflation Australians now experience are largely due to domestic economic conditions. Th…