Thirdly, of course, there were crises in several fixed rate countries (Mexico and Brazil), and they adopted flexible exchange rates as a result. It is this more widespread adoption of exchange rate regimes at the floating end of the spectrum which I would like to call “flexible” rather than “floating” (more on this later) - that brought inflation targeting to centre-stage.
Graph 6  Payroll Jobs by Region* Change since mid March 2020 WA NT SA Qld NSW Australia ACT Tas Vic -10  -8  -6 To mid April  * **  -4  -2  0  %  To mid September**  Excludes businesses not reporting through single-touch payroll and self-employed persons Average of weeks ending 12 and 19 September 2020  Sources: ABS; RBA  The recovery has been strongest in Western Australia – so much so that in our business liaison we are hearing reports of some labour shortages.