I thank Laura Berger-Thomson, Adam Cagliarini, Gianni La Cava and Matthew Read for excellent suggestions and assistance in preparing these remarks. 1. Introduction  I’d like to thank Rohan Pitchford and Martin Richardson for organising this event.
It’s great to be back at the ANU, where almost 30 years ago I was embarking on my study of botany just across campus, with some economics on the side for good measure. It was my dislike of compulsory chemistry classes led me down that side path. Tonight I want to talk about the effects of monetary policy on the economy.