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Federal

Aug 22, 2016

The RBA can't fix our growth woes -- only government can do that

Extending the Reserve Bank's goal from inflation to nominal GDP growth is a foreign solution to a problem that Australia can't fix via monetary policy, Bernard Keane and Glenn Dyer write.

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The call from powerful South Australian Senator Nick Xenophon and economist Danny Price to extend the Reserve Bank’s mandate to nominal growth targeting is an attempt to import a foreign solution to foreign problems.

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