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r901128a_BOA | australia | 1990-11-28T00:00:00 | A Proper Role for Monetary Policy | fraser | 0 | They would no doubt argue that to have two objectives is like trying to have your cake and eat it too. I think this is an unreasonable simplification caused by taking the language too literally. An analogy might help here. If I am driving to Canberra, I might say that I wish to get there as quickly as I can, but I do n... |
r911003a_BOA | australia | 1991-10-03T00:00:00 | fraser | 0 | Today I wish to talk about real interest rates. I do so mainly from an historical perspective, without intending to imply anything specific about the movement of interest rates over the months ahead. Nor am I intending to promote real interest rates as a new yardstick for the conduct of monetary policy; they are much t... | |
r920314a_BOA | australia | 1992-03-14T00:00:00 | fraser | 0 | I welcome this opportunity to talk about prospects for banks in Australia, a topic of possibly more than usual interest to many of you following the Government's recent decisions to further open up banking in this country. In part, of course, the prospects for banks are linked to the prospects for the economy generally... | |
r920529a_BOA | australia | 1992-05-29T00:00:00 | fraser | 0 | It is a pleasure to have this opportunity to address such an influential gathering. I am particularly pleased that Hans Tietmeyer and many other central bank colleagues are able to be here. I take this opportunity to tell you something about exchange rate movements in Australia over recent years and the Reserve Bank's ... | |
r920817a_BOA | australia | 1992-08-17T00:00:00 | fraser | 0 | As a long-time fan of Don Sanders, I am delighted to be participating in this tribute to the Reserve Bank Board, and on the Commonwealth Bank Board, after he was appointed Managing Director of the latter taken a more than passing interest in his commercial banking activities. Our close contact over recent years has bro... | |
r930331a_BOA | australia | 1993-03-31T00:00:00 | fraser | 0 | I have been looking forward to this opportunity to speak to ABE. For one thing, business economists tend to be practical and pragmatic people who are interested in policies which actually work, rather than theoretical or ideological prescriptions. Perhaps this is because they have to 'sell' their advice to their boards... | |
r930520a_BOA | australia | 1993-05-20T00:00:00 | fraser | 0 | Economic growth is usually viewed from a short-term perspective but it is long-term growth that has been the basis of wealth and power for nation states throughout history. It is the basis also of the additional jobs and higher living standards that we all desire today. Most economists are happy enough, I think, to be ... | |
r930804a_BOA | australia | 1993-08-04T00:00:00 | fraser | 0 | Vision' is not one of my favourite words: it can have surrealist overtones. But all policy makers and advisers should have - and implicitly do have - a view or vision of their world. Many have at least two: a view of the world as they see it now and another, Walter Mitty-kind-of-view, of how the world would look if pol... | |
r930921a_BOA | australia | 1993-09-21T00:00:00 | fraser | 0 | I welcome this opportunity to mention some developments in Australia of likely interest to Japanese institutional investors. At the end of the day, you will reach your own judgments about whether or not to invest in Australia; it is in all our interests, however, that those judgments be based on current data, not outda... | |
r931110a_BOA | australia | 1993-11-10T00:00:00 | fraser | 0 | Australia, like other countries, has a number of economic problems. Too often the media focuses on the negatives, and downplays the good progress which, I believe, is being made on several fronts. Today I want to suggest ten reasons for confidence about Australia's future - both in sustaining the nascent recovery, and ... | |
r931124a_BOA | australia | 1993-11-24T00:00:00 | fraser | 0 | This is my fifth appearance at a CEDA AGM dinner, and perhaps the regulars among you are beginning to feel the onset of fatigue. For my own part, I see no end of topics that could be discussed in this forum. At past meetings I have talked about a variety of policy matters, with a particular focus on monetary policy - i... | |
r940330a_BOA | australia | 1994-03-30T00:00:00 | fraser | 0 | It is a pleasure to be with you again today. It is almost a year to the day since I last spoke to you. At that time, I said that I enjoyed speaking with business economists because they tended to be 'practical and pragmatic people who are interested in policies which actually work, rather than theoretical or ideologica... | |
r940512a_BOA | australia | 1994-05-12T00:00:00 | fraser | 0 | The rural sector is less significant in the overall economy now than in the days when I was growing up in Junee. Forty years ago, farm output represented around 20 per cent of Australia's GDP and contributed over 80 per cent of exports. Today, it accounts for less than 5 per cent of total output but still generates abo... | |
r940523a_BOA | australia | 1994-05-23T00:00:00 | fraser | 0 | As supervisor of the banks, the Reserve Bank has been likened to the shepherd tending his flock. Keeping the flock intact over the past decade, after the regulatory fences came down, has had its moments. A couple have wandered off, and a couple have lost more than their tails. But no carcasses litter the landscape. Ind... | |
r940713a_BOA | australia | 1994-07-13T00:00:00 | fraser | 0 | Australia since I spoke at the corresponding BZW seminar last September, most of it good. The best news is that the Australian economy is now growing quite strongly and that inflation is under control. I suspect you know this already; these days economic news - good and bad - travels quickly. Indeed, in London a few we... | |
r940817a_BOA | australia | 1994-08-17T00:00:00 | fraser | 0 | It will be ten years next month since the Government invited banks around the world to express an interest in acquiring an Australian banking authority. That process led to the first wave of foreign banks in the mid 1980s; it was to be followed by the second wave - a 'wavette' really - which is now occurring. I would l... | |
r940926a_BOA | australia | 1994-09-26T00:00:00 | fraser | 0 | I am honoured to have the opportunity to address this year's Conference of Economists. Economists have long had a substantial influence on public debate and public policy. We should not be surprised by that. Keynes observed almost 60 years ago that: '... the ideas of economists and political philosophers, both when the... | |
r941123a_BOA | australia | 1994-11-23T00:00:00 | fraser | 0 | The issue of central bank independence has generated considerable debate all over the world in recent years. We are all familiar with the much publicised reforms to the Reserve element in the European Monetary Union is the formation of an independent supranational central bank. Many of the 'transitional economies' of e... | |
r941129a_BOA | australia | 1994-11-29T00:00:00 | fraser | 0 | This is the sixth opportunity I have had to address CEDA's AGM as Governor; for me it has been a long and happy association with Tonight I would like to stand back from the daily occurrences which excite the media and financial markets to observe some longer-term trends which, ultimately, determine standards of living ... | |
r941214a_BOA | australia | 1994-12-14T00:00:00 | fraser | 0 | It is a pleasure to take part in today's Conference. My brief is to tell you a little about our experience with the development of financial markets in Australia, and to draw out aspects of that experience which might be of interest to other countries in the region. After more than a decade of restructuring, Australia'... | |
r950330a_BOA | australia | 1995-03-30T00:00:00 | fraser | 0 | Once again it is a pleasure to have this opportunity to speak to members of the ABE. I believe - I hope correctly - that business economists share our interest in seeking out practical policy responses to our problems. Today, I would like to offer some comments on current economic trends and their implications for poli... | |
r950613a_BOA | australia | 1995-06-13T00:00:00 | fraser | 0 | Some people, when they meet a medical practitioner, like to regale the doctor with their current ailments, and seek insights into possible remedies. The corresponding occupational hazard for central bankers is to be interrogated about the outlook for interest rates and exchange rates. I suspect that the two burning que... | |
r950711a_BOA | australia | 1995-07-11T00:00:00 | fraser | 0 | Since the economy began to recover in mid 1991, real GDP has increased by about 15 per cent. Over the four-year period, this implies an average growth rate of between 3 and 4 per cent. Growth of a similar order is forecast for 1995/96. In other words, so far in this recovery phase we are looking at five years of growth... | |
r950925a_BOA | australia | 1995-09-25T00:00:00 | fraser | 0 | I am pleased that cooperation among countries in Asia is such a prominent theme than ever before, we are living in an era of global markets, but that does not mean regional groupings are losing their relevance. Indeed, given that we have an international monetary system that is more akin to a patchwork quilt than a sea... | |
r951019a_BOA | australia | 1995-10-19T00:00:00 | fraser | 0 | Once again, we welcome the opportunity to meet with the Committee, not only to elaborate on our activities during the past year, but also to respond to falsehoods about the Bank which surface from time to time. We see public accountability in this way as a necessary corollary of our independence. We had not intended to... | |
r951130a_BOA | australia | 1995-11-30T00:00:00 | fraser | 0 | It is a pleasure to talk to CEDA again. Debt is my main topic this evening. Before coming to that, however, I would like to comment briefly on current economic trends. The economy is emitting mixed but reasonably predictable signals. Yesterday's national accounts pointed to further strong growth in the September quarte... | |
r960328a_BOA | australia | 1996-03-28T00:00:00 | fraser | 0 | I always enjoy talking to the ABE. More than most, business economists understand that government policies do make a difference, but they also understand that the fate of businesses ultimately rests in their own hands. It is timely to reflect on this point as the economy continues one of its longest ever periods of uni... | |
r960510a_BOA | australia | 1996-05-10T00:00:00 | fraser | 0 | I am pleased to have been invited to this Symposium to mark the 25th anniversary of the Monetary Authority of Singapore, and to have the opportunity to express some views on 'optimal' inflation targets. Inflation targets are the central banking vogue of the first half of the 1990s, and it is appropriate to ask whether ... | |
r960705a_BOA | australia | 1996-07-05T00:00:00 | fraser | 0 | Today I would like to share a few thoughts with you on some of the regulatory issues that will confront the Financial System Inquiry. I want to say at the outset that the Reserve Bank has supported the notion of an inquiry into the financial system. After a decade of financial deregulation and rapid technological chang... | |
r960716a_BOA | australia | 1996-07-16T00:00:00 | fraser | 0 | I am pleased to have this opportunity to speak to The 500 Club and, in effect, take up the challenge issued by John Paterson last Australia has had five years of good economic growth with low inflation, which is a better experience than practically every other OECD country. Yet there is not quite the zip about things t... | |
r960808a_BOA | australia | 1996-08-08T00:00:00 | fraser | 0 | I am pleased to have this opportunity to talk with you about a particular form of co-operation in the Asian region, namely co-operation among central bankers: in fact, we now have the beginnings of what could, in time, prove to be an interesting case study in regional central bank co-operation. It is not surprising tha... | |
r960815a_BOA | australia | 1996-08-15T00:00:00 | fraser | 0 | In my first talk as Governor I discussed the Reserve Bank's independence. I would like to return to that topic today. It is a topic which has provided a good deal of copy for journalists over the years. Perhaps it is all the conflict and intrigue which has given it such instinctive media appeal. Conflicts have been per... | |
r960905a_BOA | australia | 1996-09-05T00:00:00 | fraser | 0 | This is the fourth opportunity I have had to participate in BZW's annual Australia Day seminar in Tokyo. On each occasion in the past I have been telling a story of progress in the Australian economy. And, happily, subsequent developments have tended to support this story - which probably explains why I have been invit... | |
r960925a_BOA | australia | 1996-09-25T00:00:00 | macfarlane | 1 | I would like to start by congratulating the Economic Society for putting together this policy forum. They certainly have been evenhanded - one Central Bank Governor and one Secretary to the Treasury as speakers, a chairman who is a Secretary to the Treasury and a discussant who has been both a Central Bank Governor and... | |
r961120a_BOA | australia | 1996-11-20T00:00:00 | macfarlane | 1 | I am pleased to be invited to speak to the in Asia. It is a topic to which we at the Reserve Bank of Australia and our colleagues in other central banks in the region have given a great deal of thought. As many of you may know, my predecessor, Bernie Fraser, was a keen advocate of co-operation between central banks in ... | |
r961128a_BOA | australia | 1996-11-28T00:00:00 | macfarlane | 1 | This is not the first time I have addressed CEDA, but it is the first time as Governor. In my new role, I am expected to say something of significance on monetary policy and I hope I will not let you down. On the other hand, my comments are meant to apply to the medium term, and there may be some disappointment to thos... | |
r970205a_BOA | australia | 1997-02-05T00:00:00 | macfarlane | 1 | When Alan Cameron invited me to speak at a conference on electronic commerce I was rather reluctant at first because I am not an expert on the subject. However, when I thought about it a bit more, I realised that the subject was really part of the general story of innovation, and that it had some interesting parallels ... | |
r970211a_BOA | australia | 1997-02-11T00:00:00 | macfarlane | 1 | It is a great pleasure to be speaking at The Sydney Institute, which has done so much over recent years to keep alive informed discussion of public affairs and the arts. In keeping with this tradition, I have chosen to speak on a subject with an historical, economic and political theme. I would like to look back at the... | |
r970508a_BOA | australia | 1997-05-08T00:00:00 | macfarlane | 1 | Thank you, Mr Chairman. It is a pleasure for me, and my colleagues, to be here this morning. This is the sixth time we have appeared before this Committee, but the first time under the new arrangements agreed between the Treasurer and myself at the time of my appointment, and contained in the document known as the Stat... | |
r970515a_BOA | australia | 1997-05-15T00:00:00 | macfarlane | 1 | It is a pleasure to be here in Melbourne, and to be speaking to the Australia-Israel Chamber of Commerce. I was very pleased to be invited to address this distinguished group so soon after I was appointed. If at the end of this address, you feel that I have still left some important questions unanswered, my suggestion ... | |
r970812a_BOA | australia | 1997-08-12T00:00:00 | macfarlane | 1 | It is a pleasure to be in Perth to address the Company Directors. It is also fitting that I should be talking about economic growth, since Western Australia has set an example to the rest of Australia by its high growth rate in the 1990s. Some would say this is inevitable, given its resource base, but we have seen inte... | |
r970929a_BOA | australia | 1997-09-29T00:00:00 | macfarlane | 1 | It is a pleasure to be speaking at this year's Conference of Economists on a subject which has been central to my own career. I thought of calling the speech 'Monetary Regimes I Have Known', but that would have given too historical an emphasis. While history is extremely important, and provides a useful antidote to exc... | |
r971106a_BOA | australia | 1997-11-06T00:00:00 | macfarlane | 1 | Governor's appearance before the Committee. Thank you, Mr Chairman. It is a pleasure to be here in front of your Committee for the second time under the new arrangements set out in the Statement on the Conduct of Monetary . On the basis of the first hearing, we think the new arrangements are working very well. On that ... | |
r971204a_BOA | australia | 1997-12-04T00:00:00 | macfarlane | 1 | It is a pleasure to be here this evening to looked back over my files and I noted that this is only the second time I have addressed this group; the previous occasion was nearly seven years ago in February 1991. At that time, I spoke about asset price booms and busts, particularly the latter. You may think I have a one... | |
r980311a_BOA | australia | 1998-03-11T00:00:00 | macfarlane | 1 | This is my first opportunity to address such an important audience in New York, but I hope it will be the first of many such occasions. I have chosen as my topic the current Asian situation, which as you can well imagine is exercising a lot of our time and thought in Australia at the moment. We like to think that there... | |
r980326a_BOA | australia | 1998-03-26T00:00:00 | macfarlane | 1 | It is a pleasure to be here in Brisbane addressing the Australian Stock Exchange, the do not know whether I should nominate myself as a bull or a bear. Members of this audience will be able to make up their own minds after they have heard my story today. In the period since the collapse of Asian currencies - roughly si... | |
r980507a_BOA | australia | 1998-05-07T00:00:00 | macfarlane | 1 | Governor's appearance before the Committee. Mr Chairman, it is a pleasure to be here in front of your Committee for the third time under the new arrangements set out in the . I hope this meeting will be as successful as its predecessors in helping to lift the level of understanding of monetary policy, financial stabili... | |
r980604a_BOA | australia | 1998-06-04T00:00:00 | macfarlane | 1 | It is a pleasure to be here in London again, in front of such a distinguished audience. I was speaking to a similar group here last June, but the atmosphere was rather different. I was able to speak exclusively about Australia, but in todayOs climate I would be remiss if I was not also to spend some time talking about ... | |
r980702a_BOA | australia | 1998-07-02T00:00:00 | macfarlane | 1 | Thank you for the opportunity of being present at the celebration of the Reserve Bank of Fiji's 25 Anniversary. The family of central banking certainly has a wide span of ages - from the Swedish Riksbank, which this year is 330 years old, all the way down to relatively young central banks, such as a number of us in the... | |
r980915a_BOA | australia | 1998-09-15T00:00:00 | macfarlane | 1 | The following is the text of the Shann Memorial delivered by the It is an honour to be invited here tonight to deliver the Shann Lecture. As is customary when giving a memorial lecture, I have re-acquainted myself with the writings of the man whose memory we are honouring. It is noteworthy that for most of his working ... | |
r981014a_BOA | australia | 1998-10-14T00:00:00 | macfarlane | 1 | In my ten minutes here I will try and cover what I see as the main changes in perspective about what we formerly termed the Asian crisis, and then say a few words about future international financial architecture. The main change is that since August this year we no longer think of an Asian crisis but we now think of e... | |
r981021a_BOA | australia | 1998-10-21T00:00:00 | macfarlane | 1 | I would like to start by adding my voice to those who have already welcomed you to this Conference and to the city of Sydney. It goes without saying that there could hardly be a more propitious time for the international leaders in the field of bank supervision to be meeting. When we first started planning this Confere... | |
r981125a_BOA | australia | 1998-11-25T00:00:00 | macfarlane | 1 | It is a pleasure to be in Melbourne again time I addressed this group two years ago I spoke about the Australian economy, monetary policy and wages. Events have moved on a good deal since then, and I hope what I have to say tonight reflects this. The biggest change is that attention is now more focused on the internati... | |
r981127a_BOA | australia | 1998-11-27T00:00:00 | macfarlane | 1 | First, I would like to add to what Mr Hawke has already said by extending my personal welcome to Australia for the 1998 Asia Pacific Forex Congress. I am glad to see that the Asian Pacific Congress is continuing to thrive. A regional association such as this is important because, according to the latest BIS world marke... | |
r981215a_BOA | australia | 1998-12-15T00:00:00 | macfarlane | 1 | Governor, in testimony to the House of was released on 9 November 1998. It is a pleasure to be here in front of your Committee again. As you mentioned, the need to make adjustments to the composition of the Committee after the October Federal election means that we are meeting about five weeks later than our normal tim... | |
r990311a_BOA | australia | 1999-03-11T00:00:00 | macfarlane | 1 | Last time I spoke to a group like this in Tokyo was in September 1997 when my hosts were Barclays de Zoete Wedd (BZW). The same people are hosting this Seminar, but thanks to the mergers and rationalisations that have become so common in the finance sector, I am now speaking under the auspices of ABN-AMRO. My aim today... | |
r990521a_BOA | australia | 1999-05-21T00:00:00 | macfarlane | 1 | It is a pleasure to be in Hong Kong talking to the CLSA Investors' Forum. This conference has built up quite a reputation over the years and I am honoured to be invited to address such an impressive group of investors. I will try my best to avoid presenting you with a 'sales pitch', but that is easier said than done. I... | |
r990617a_BOA | australia | 1999-06-17T00:00:00 | macfarlane | 1 | Governor, in testimony to the House of was released on 6 May 1999. Thank you, Mr Chairman. It is a pleasure to be here in Melbourne again appearing in front of the Committee. Like last time, the has already been released a month before the hearing. On this occasion, it was the Budget that caused the delay in the hearin... | |
r990729a_BOA | australia | 1999-07-29T00:00:00 | macfarlane | 1 | The following is the text of the R.C. Mills Memorial Lecture delivered by the Governor, It is an honour to be here today at the University of Sydney delivering the eighteenth to start a Memorial Lecture by paying homage to the person in whose memory the lecture is held, but I would like to break with tradition and do t... | |
r991027a_BOA | australia | 1999-10-27T00:00:00 | macfarlane | 1 | The following is the text of the Chris Higgins delivered by the of on It is an honour to be invited to deliver the Chris from 1970 till his death in 1990. He was, in my opinion, the best Australian applied macroeconomist of his era and a policy-maker of distinction. His views on economics would place him amongst those ... | |
r991111a_BOA | australia | 1999-11-11T00:00:00 | macfarlane | 1 | I will say a few words on monetary policy tonight, but they are not intended to be very profound. This is partly because I have recently held forth on the subject in the Chris Higgins Lecture. You will also be aware that we have made a change to monetary policy, issued an accompanying press release, and also issued our... | |
r991129a_BOA | australia | 1999-11-29T00:00:00 | macfarlane | 1 | Governor, in testimony to the House of was released on 8 November 1999. It is a pleasure to be here in these dignified surroundings to appear before the Committee again. As you know, we take these hearings very seriously because we regard them as an important channel for Parliament, through its representatives, to ques... | |
r000211a_BOA | australia | 2000-02-11T00:00:00 | macfarlane | 1 | It is a great pleasure to be here speaking to I first spoke before the Society in 1986 and have been back a few times since. On each occasion I have appreciated the interest and attention you have afforded me. I hope that what I have to say today will again be of interest to you. I want to take the opportunity today to... | |
r000314a_BOA | australia | 2000-03-14T00:00:00 | macfarlane | 1 | I would like to start by thanking Mr Brady for his introductory remarks, and his decision to schedule a conference Sydney. It recognises the significance and growth potential of our capital markets, and the generally improved prospects for this region. I see a very impressive list of speakers and participants before me... | |
r000522a_BOA | australia | 2000-05-22T00:00:00 | macfarlane | 1 | House of Representatives was released on 5 May 2000. It is a pleasure to be here in Melbourne again for our regular half-yearly appearance before the Committee. I know we met in March and touched upon monetary policy, but that meeting was mainly about Reform of occasion, we will no doubt have a lot more time to spend o... | |
r000526a_BOA | australia | 2000-05-26T00:00:00 | macfarlane | 1 | It is a great pleasure to be in London again speaking under the auspices of Australian Business in Europe. The last time I spoke to this group in London was in mid-1998, which was very close to the low point of the Asian crisis. My main purpose on that occasion was to reassure investors in the City that Australia would... | |
r000810a_BOA | australia | 2000-08-10T00:00:00 | macfarlane | 1 | It is a pleasure to be here in Brisbane to not sure that I will have much to say about leadership, but I hope that my comments will be of interest and relevance to those attending today. I would also like to thank the is to be congratulated for running this excellent series of lectures. I would like to take the opportu... | |
r000911a_BOA | australia | 2000-09-11T00:00:00 | macfarlane | 1 | Ian, just taking you up on the reasons for the fall in the Australian dollar I'd like you to elaborate a little bit more if you could, and could it be that the world looks at Australia and says you are facing a very big technology import bill in the next ten years because you are not generating enough technology yourse... | |
r001109a_BOA | australia | 2000-11-09T00:00:00 | macfarlane | 1 | I am very pleased to have been asked to the third time in Melbourne. When deciding on a topic for tonight, I realised that it would be very difficult to discuss the Australian economy without spending some time on the exchange rate and the various reasons advanced for its recent fall. So I have decided to plunge in and... | |
r001201a_BOA | australia | 2000-12-01T00:00:00 | macfarlane | 1 | Governor, in testimony to the House of was released on I would like to start by endorsing the remarks of the Chairman and saying what a pleasure it is to be in Wagga Wagga for the first hearing to be conducted outside Sydney, Mr Chairman, I think it sets a good precedent for future meetings, even if it does represent a... | |
r010410a_BOA | australia | 2001-04-10T00:00:00 | macfarlane | 1 | It is a pleasure to be here in Melbourne speaking to the Economic Society again at this very interesting time in the evolution of the world economy, the Australian economy and our monetary policy. With so much happening, I trust you will find what I have to say about our current economic circumstances and monetary poli... | |
r010511a_BOA | australia | 2001-05-11T00:00:00 | macfarlane | 1 | Governor, in testimony to the House of was released Mr Chairman, a lot has happened in the economy since we last met in Wagga Wagga at the beginning of December. This has resulted in a significant shift in the stance of monetary policy. I think I owe it to the Committee to give a full account of these developments and ... | |
r010710a_BOA | australia | 2001-07-10T00:00:00 | macfarlane | 1 | It is a pleasure to be here again talking to the Australian Business Economists and the often feel it would be nice to be able to speak in a detached way on some interesting public policy or historical topic. But in periods where the domestic and world economies are evolving quite quickly, current economic developments... | |
r010918a_BOA | australia | 2001-09-18T00:00:00 | macfarlane | 1 | The following is the text of the Giblin Lecture delivered by the Governor, Mr IJ Macfarlane, to Let me start by thanking the University of Tasmania for inviting me to give this lecture, which commemorates one of Australia's truly remarkable men. My choice of topic tonight was made long before the tragic events in the U... | |
r011206a_BOA | australia | 2001-12-06T00:00:00 | macfarlane | 1 | I last spoke at this Conference Dinner two years ago, and a lot has happened to the Australian and world economies since that time. I am pleased to be invited back and given a platform from which to share a few thoughts with you tonight. In keeping with the theme of the Conference - which is about forecasting - I will ... | |
r020322a_BOA | australia | 2002-03-22T00:00:00 | macfarlane | 1 | The following is the text of the Inaugural Sir Leslie Melville Lecture delivered by the Governor, I would like to start by thanking the me to give this address. We at the Reserve Bank were wondering what we could do to so the invitation now gives the two institutions - the Reserve Bank and the opportunity to pay tribut... | |
r020404a_BOA | australia | 2002-04-04T00:00:00 | macfarlane | 1 | Dinner sponsored by the Melbourne Institute and newspaper, Melbourne, It is an honour to be invited here this evening to give this address, although I must confess I am somewhat daunted by the task. We have heard so much in this conference on such a broad range of economic subjects by such a distinguished group of spea... | |
r020531a_BOA | australia | 2002-05-31T00:00:00 | macfarlane | 1 | Governor, in testimony to the House of was released on Mr Chairman, with the normal timetable interrupted by last November's election, it is slightly over a year since we appeared before this Committee. Since it has been an extremely eventful year, I will have a fair bit of work to do today to fill the gap. Looking bac... | |
r020625a_BOA | australia | 2002-06-25T00:00:00 | macfarlane | 1 | Roundtable with the Government of Australia, I would like to start by thanking for inviting me to be the guest speaker at the 7 Roundtables have served a very useful purpose since their inception in the late 1960s, and I am sure this one will be just as productive. When I was invited to give this address, I was told th... | |
r020821a_BOA | australia | 2002-08-21T00:00:00 | macfarlane | 1 | The following is the text of the Colin Clark Memorial Lecture delivered by the Governor, Mr IJ Macfarlane, at the invitation of the University of Queensland, Brisbane on I would like to start by thanking the University of Queensland for inviting me to deliver the 12 It is an honour that I very much appreciate. I met ve... | |
r021113a_BOA | australia | 2002-11-13T00:00:00 | macfarlane | 1 | This is the fourth time I have addressed Melbourne, and following the practice adopted on earlier occasions, I would like to focus on a topic of current interest. Last time I was here two years ago, I devoted the whole speech to the exchange rate. This time I have found no need to mention it, as there are other more im... | |
r021206a_BOA | australia | 2002-12-06T00:00:00 | macfarlane | 1 | Governor, in testimony to the House of was released on I would like to endorse the remarks of the Chairman and say what a pleasure it is to be in Warrnambool, for the second hearing to be conducted outside the Sydney-MelbourneCanberra triangle. The first was in Wagga Wagga, and I remember at the time suggesting that th... | |
r030403a_BOA | australia | 2003-04-03T00:00:00 | macfarlane | 1 | Tonight's subject is one that has attracted increasing attention over recent years - namely, the growth of household debt. There is no doubt that this debt has grown quickly over the past decade, and this has prompted a number of people to suggest that it is too high and that it presents a threat to the future health o... | |
r030606a_BOA | australia | 2003-06-06T00:00:00 | macfarlane | 1 | The Proof and Official Hansard transcripts of Senate committee hearings, some House of Representatives committee hearings and some joint committee hearings are available on the Internet. Some House of Representatives committees and some joint committees make available only Official Hansard transcripts. To search the pa... | |
r030708a_BOA | australia | 2003-07-08T00:00:00 | macfarlane | 1 | I would like to start by thanking the Business Council of Australia for inviting me to its Annual Dinner. This is the first such occasion I have attended, and I note that the price of my invitation is that I have to give the after-dinner speech. Given the time of day, you will be pleased to hear that I will confine mys... | |
r030809a_BOA | australia | 2003-08-09T00:00:00 | macfarlane | 1 | From the perspective of a developed OECD (Organisation for Economic Co-operation and Development) economy, what is the biggest risk to financial and economic stability? I suspect that at various stages over the past few decades, we would have come up with different answers. For much of the period, we would point to our... | |
r031016a_BOA | australia | 2003-10-16T00:00:00 | macfarlane | 1 | The following is the text of the Tenth Annual I would like to start by thanking the inviting me to deliver this lecture commemorating such a distinguished is a great honour, and I will devote the major part of my lecture tonight to Australia's economic relations with Asia - a theme of which I am sure he would have appr... | |
r031113a_BOA | australia | 2003-11-13T00:00:00 | macfarlane | 1 | Conference Dinner sponsored by the Melbourne Institute and newspaper, In keeping with the theme of this year's conference, I have chosen a subject which has a long-run focus. No doubt this will disappoint some who were hoping that I would deal with the 'here and now' of Australian monetary policy. But I should point ou... | |
r031208a_BOA | australia | 2003-12-08T00:00:00 | macfarlane | 1 | Governor, in testimony to the House of was released on Mr Chairman, it is a pleasure to be here today in front of your Committee again, and I am very pleased that we have been able to meet in Brisbane for the first time. As you know, we take these hearings very seriously because they enable Parliament, through its repr... | |
r040414a_BOA | australia | 2004-04-14T00:00:00 | macfarlane | 1 | The following is the text of the Inaugural Studies Lecture delivered by the Governor, It is a great honour to be invited by Macquarie University to deliver the Inaugural Lecture tonight. I also note that this is the anniversary of the establishment of those years Professor Yerbury has been Vice-Chancellor - a remarkabl... | |
r040604a_BOA | australia | 2004-06-04T00:00:00 | macfarlane | 1 | Governor, in testimony to the House of Statement on was released on 7 May 2004. It is a pleasure for me to be here in front of the Committee once again. As usual, I will start by reviewing the forecasts I gave to the Committee six months ago in Brisbane, then provide you with an update of our current forecasts. I will ... | |
r040825a_BOA | australia | 2004-08-25T00:00:00 | macfarlane | 1 | It is always a pleasure to be in Melbourne, particularly when I am in these gracious and peaceful surroundings and contributing to such a good cause as the Bottom Line Luncheon. By a strange coincidence the my fellow Board Member of the Reserve Polglase, an old school friend. How could I refuse the invitation to speak ... | |
r041116a_BOA | australia | 2004-11-16T00:00:00 | macfarlane | 1 | It is a great pleasure to be here again in Melbourne addressing CEDA's Annual Dinner. This is the fifth time I have done so, and it is like returning to be with old friends. I usually talk about some aspect of monetary policy, and will do so again tonight, starting with something very familiar and then moving to newer ... | |
r050218a_BOA | australia | 2005-02-18T00:00:00 | macfarlane | 1 | It is a pleasure to be back in front of the Committee after a break of about eight months. As you know, we take these appearances very seriously and appreciate the opportunity it gives us to explain our position to Parliament and to the public. I hope the new Committee will fi nd it as valuable as we do. Earlier this m... | |
r050323a_BOA | australia | 2005-03-23T00:00:00 | macfarlane | 1 | I suppose I should start by explaining why I have chosen this title for my talk today. Gresham's Law is usually stated simply as 'the bad currency drives out the good' and it refers to a time when all transactions used coins. If you had to buy one pound's worth of merchandise and you had two coins - one which you knew ... | |
r050507a_BOA | australia | 2005-05-07T00:00:00 | lowe | 1 | Thank you for the opportunity to participate in this excellent conference. It is fabulous to see so many people from academia and the public and private sectors so interested in the economics of interchange fees. When the Reserve Bank of Australia started looking at these fees in 1998 we found it hard to fi nd people t... | |
r050512a_BOA | australia | 2005-05-12T00:00:00 | macfarlane | 1 | My talk today is about payments imbalances in the world economy, a subject that has received exhaustive attention over recent years. The reason for this is simple: it is not just that there are large imbalances between deficit and surplus countries, but that the pattern seems to have become entrenched over recent years... | |
r050614a_BOA | australia | 2005-06-14T00:00:00 | macfarlane | 1 | Let me start by saying what a pleasure it is to be here before such a distinguished gathering at the Australian Institute of Company Directors. I have not spoken on the economy since February, so I will take this opportunity to do so today. My main topic is how global and domestic infl uences are interacting on the Aus... | |
r050812a_BOA | australia | 2005-08-12T00:00:00 | macfarlane | 1 | I would like to start by saying how pleased I am to be back in Melbourne in these familiar surroundings. Since these half-yearly hearings started in May 1997, this is the sixth time we have appeared in Melbourne, and the seventh time in Victoria - the other time being in Warrnambool in 2002. I hope that the discussions... | |
r050928a_BOA | australia | 2005-09-28T00:00:00 | macfarlane | 1 | I have given a number of speeches to the Economic Society over the years, and it is a pleasure to be doing so again tonight. The last time I gave the closing address to the Conference of Economists was in 1997 in Hobart. The subject I want to speak about tonight is one which has loomed particularly large in internation... |
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