Low inflation is an important requirement for higher economic growth, the creation of employment opportunities and a more equitable distribution of income.” Looking back, the past year was particularly challenging for macroeconomic management. The Reserve Bank can be satisfied that it has been relatively successful in making its specialised contribution to the attainment of the Government’s overall economic objectives as set out in GEAR.
To giving it all you have got. To play the game until the very final whistle. And rest assured, this is exactly what the ECB will do. Notes [1] The hypothesis of rational inattention has been discussed recently by J.H. Powell (2022). Monetary policy and Price stability .