Guaranteeing that it will overshoot its target for some time is the best way of getting inflation up.
- Professor of Economics, The University of Melbourne
It’s far too early to declare victory. The need for conventional economic stimulus has just begun.
A realistic estimate of the economic costs of a two-year lockdown amounts to $90 billion. The benefit in lives saved amounts to at $1.1 trillion.
Leading Australian economists in four countries have signed an open letter calling on the national cabinet to think carefully before easing restrictions ‘for the sake of 'the economy’.
The legislation before parliament over-compensates some and under-compensates others, but should leave us better off on the other side.
While the RBA might not be able to influence the current cash rate, it can still influence longer-term rates by offering guidance about its future policy decisions.
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