RBA boss ‘soul searching’ after inflation forecast mishap | 9 News Australia

Rba boss ‘soul searching’ after inflation forecast mishap | 9 news australia

9 News Australia published this video item, entitled “RBA boss ‘soul searching’ after inflation forecast mishap | 9 News Australia” – below is their description.

Governor of Australia’s Reserve Bank Dr Philip Lowe has announced he is refusing to step down amid calls for his resignation over the failure to predict this year’s rampant inflation.

9 News Australia YouTube Channel

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About This Source - 9 News Australia

9 News Australia has delivered breaking news, features and exclusive news from around Australia and the world into homes since 1956. In December 2013, Nine Entertainment listed on the ASX, trading as ASX: NEC.

In November 2020, Nine Entertainment relocated from Willoughby where it had been based for 64 years to North Sydney.

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Australia, officially known as the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. It is the largest country in Oceania and the world’s sixth-largest country by total area.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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