rba speech, 2006-09-17
Nonetheless, as shown in Graph 1, after the floating of the exchange rate, interest rates have been considerably less volatile, and it is highly likely, at least in the case of Australia, that the change in the exchange rate regime, along with other reforms and the establishment of consistent medium-term frameworks for monetary and fiscal policy, made some contribution to the decline in macroeconomic volatility.
Sentiment: neutral
Topic: mp_interest_rate