Recent Policy These considerations have been relevant in our conduct of policy. With the global economy improving during the second half of 2003, it was clear that the Australian economy would not need interest rates to be only just above generation lows for much longer.
In other words, people can never know what they ought to want, because they only have one life and that life cannot be compared with earlier lives nor can it be corrected in later ones. Therefore, it is impossible to tell what is the right decision because there is nothing to compare it with. There are no comparisons for the euro, either.