The fiscal accounts have been kept in good order. And inflation has remained under control. It is fair to say that these outcomes are better than was widely expected 20 years ago. If we use our own history or overseas experience as a guide, these outcomes, collectively, could hardly be described as usual, typical or expected.
Indeed, they have been better than what might reasonably be described as normal. Importantly, this experience leaves us with a very positive legacy. 1  See <www.oxforddictionaries.com>. BIS central bankers’ speeches  1  More of us have jobs than ever before. Our incomes are noticeably higher. We are wealthier. And our economy has moved up the global league tables.