Progress on these fronts will help to increase the resilience of the economy to change in the external environment and move decisively towards a situation in which households can look forward to modest but steady increases in real incomes and living standards.
This is another challenge for the Reserve Bank on the data and analysis side. (v)  Data on employment  Finally, I come to a major gripe. Globally, trends in employment are one of the most important inputs in setting monetary policy response. Unfortunately, we do not have any reliable nation-wide statistics on employment.