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Profits haven’t contributed to inflation? Former treasury economist says it’s not that simple

Profits haven’t contributed to inflation? Former treasury economist says it’s not that simple

Is the argument finally settled? Last week, the Reserve Bank made another intervention in the bitter dispute about profits and inflation. In its latest Statement on Monetary Policy, released on Friday, it dedicated a special chapter to the topic. The chapter was titled Have business profits contributed to inflation?, and it concluded that excessive profit-taking hasn’t been driving Australia’s inflation....

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RBA rate hikes creating inflation, top economist says, calling for radical policy overhaul

RBA rate hikes creating inflation, top economist says, calling for radical policy overhaul

Australia’s economy has become increasingly dominated by powerful firms that are extracting “economic rents” from the system, economist Ross Garnaut is warning. Key points: Ross Garnaut says policymakers need to use more policy instruments to solve economic problems He says economic rents are a serious problem in Australia He says some industries are so concentrated they are preventing...