In assessing the contribution of the media to the financial sector as a public good, I would like to distinguish among at least four types of effects. The first type is characterized as “the news effect”, which would normally reflect factual or formal positions or events. In a sense, the media’s reporting would be faithful and non-controversial.
Government investment spending, which picked up in Q2, confirms this important direction. The positive alignment between growth and inflation has been a sustained narrative. Maintaining price stability amid a challenging global and domestic environment validates our inflation targeting framework. Inflation expectations continue to be well-anchored.