To this end, the Reserve Bank participates in the work of the Bank for International Settlements, where central bankers from around the world collaborate in research, and in developing international codes and best practices. The bank also participates in the Financial Stability Forum, an international body that brings together central bankers, regulators, and government officials to address financial stability concerns.
However, the Council should not be criticised for having published this calculation. It is hard not to share the report's conclusion that there is a substantial risk of overheating. The tight labour market can to some extent be eased by importing labour, and consequently unnecessary barriers should be avoided.