Opinion
Productivity is the key to taming inflation for good
Either governments and business improve the supply side of the economy, or the RBA will have to keep squeezing demand indefinitely.
Paul BrennanEconomistWith the much-anticipated June quarter CPI coming in very close to the RBA’s last published forecast, the board is likely to leave the official cash rate unchanged at 4.35 per cent next Tuesday.
That said, at 3.8 per cent for both headline and the Reserve Bank of Australia’s preferred underlying measure, annual inflation is only moderating gradually – and much more slowly than in peer economies.
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