One way that the RBA might do this is to appoint a statutory manager to operate the critical functions of the FMI for a period of time. This is similar to the framework that is already in place for banks and that is the responsibility of APRA. 1  4  For a more detailed update on the progress of reforms, <http://www.rba.gov.au/speeches/2015/sp-ag-2015–10–22.html>.
Looking ahead, owing to these base effects, annual inflation rates are projected to remain temporarily in negative territory, before turning positive again later this year. However, such short-term movements are not relevant from a monetary policy perspective.