Philip Lowe: Inflation, productivity and the future of money

Speech by Mr Philip Lowe, Governor of the Reserve Bank of Australia, to the Australian Strategic Business Forum 2022, Melbourne, 20 July 2022.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
20 July 2022
by Philip Lowe
PDF full text
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  |  14 pages

Thank you for the invitation to take part in this year's Australian Strategic Business Forum. It is very good to be finally back in Melbourne.

This Forum is being held at a critical time. As a country, we face some significant challenges, but we have plenty of opportunities as well.

I would like to focus my remarks today on the challenge of bringing inflation back to target. This is an important priority for the RBA. And in the spirit of this Forum being about strategic issues, I would also like to briefly highlight two other strategic issues that are important to the Bank. The first of these is the need to lift productivity growth in Australia. And the second is the changing nature of money in our society.