Central bank responses to the post-COVID period of high inflation: The case of Australia

Abstract

The onset of the COVID-19 pandemic put whole countries on high alert, from front-line workers to businesses to governments and their agencies. The pandemic was, first and foremost, a public health threat that has led to around 11.6 million confirmed infections and 23,500 deaths in Australia since early 2020.1 At the same time, the public health measures taken to contain the health threats in Australia and worldwide were certain to result in an economic downturn and unemployment. What was impossible to know at the outset was how much economic hardship and for how long. Show more