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Vale the RBA inflation targeting regime

Governor Philip Lowe needs to fully commit to a monetary-policy regime, and then use his policy instruments to serve it. Now.

After 33 months of seeming inaction, the Reserve Bank of Australia finally took action on Tuesday.

No, it did not cut short-term interest rates. It left the cash rate unchanged, again, at 1.5 per cent.

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    Original URL: https://www.afr.com/link/follow-20180101-p51ku3