Slow permeation of strength in the corporate sector through to the household sector  The current economic expansion is now six years old, but partly because of the gradual pace of growth, it is not making itself felt by households to the same extent as in past economic expansions.
It has done this by supporting and enhancing the effectiveness of independent monetary policy and by helping the economy adjust to external shocks, primarily significant fluctuations in commodity prices. As you know, we are conducting a formal review of our monetary policy framework leading up to the 2021 renewal of our inflation-control agreement with the federal government.