The IMF's policy prescriptions are wrong for Australia

While Australia's policymakers fret over changes in the rate of inflation, there's a deeper problem that will trouble the economy.

Policy prescriptions advocated at the recent G20 finance ministers’ meeting in Cairns risk dragging Australia into a world of fantasy, far removed from the genuine challenges that confront the nation.

In particular, the IMF’s view that “advanced economies should continue accommodative monetary policies, given still large output gaps and very low inflation” simply holds no relevance for our country.

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