• Inflation target remains the same

Morrison announcing a new memorandum (Memorandum of Understanding, or MoU) between the government and Australia's central bank

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Sounds pretty much the same as the old one

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OK, here's the full text:

Statement on the Conduct of Monetary Policy

On inflation ....

  • an appropriate goal is to keep consumer price inflation between 2 and 3 per cent, on average, over time. This formulation allows for the natural short-run variation in inflation over the economic cycle and the medium-term focus provides the flexibility for the Reserve Bank to set its policy so as best to achieve its broad objectives, including financial stability. The 2-3 per cent medium-term goal provides a clearly identifiable performance benchmark over time.