Such effects could well be seen in and around Toowoomba itself, depending on the outcomes of proposed gas and coal projects in the region. The key will be, and not just in Toowoomba, to retain flexibility in the face of such changes. Let me now make some observations about inflation and monetary policy.
Inflation has fallen from its peak of 5 per cent in 2008. Measured on a CPI basis it fell to about 2 per cent in 2009, but that figure flatters us a bit as it was partly a result of some temporary factors.