We have a mandate to promote stability and efficiency, which I think we can view as including the efficient resolution of the coordination problems that I’ve just described. And we have significant powers that can be directed to that end. For these reasons, the RBA has been increasing its focus on these coordination issues in recent times.
To conclude, I feel that our main challenge is to maintain international competitiveness so that we can continue to ensure sustainable economic growth over the medium- to long-term. BIS Review 6/2005  5