On 11 December 2024, the Australian Business Economists hosted their Annual Dinner in Sydney, featuring an insightful keynote address by Andrew Hauser, Deputy Governor of the Reserve Bank of Australia. In his speech, Mr Hauser examined Australia’s economic outlook against the backdrop of global uncertainty, invoking the cautionary themes of Christmases past, present, and future to frame the nation’s path forward.

Mr Hauser delved into pressing economic challenges, including the impact of rising household debt, global inflationary trends, and the evolving role of monetary policy in an increasingly interconnected world. He stressed the importance of forward-thinking strategies to foster resilience, encourage sustainable growth, and navigate the complexities of modern economic systems.

The event concluded with an engaging Q&A session, where Mr Hauser addressed questions on the Reserve Bank’s priorities and the measures required to ensure long-term economic stability. His thought-provoking address resonated with policymakers, industry leaders, and economists, underscoring the need for collaboration to secure Australia’s financial future.

Key Takeaways

• Economic Outlook: Rising global inflation and household debt were highlighted as significant challenges requiring innovative solutions.
• Monetary Policy Evolution: Mr Hauser explored how central banks can adapt their tools to maintain stability and address emerging risks.
• Proactive Collaboration: He called for collective action among policymakers, businesses, and institutions to build a resilient economic future.

Andrew Hauser’s address at the Australian Business Economists Annual Dinner offered a compelling exploration of Australia’s economic future amidst global uncertainties. By reflecting on lessons from the past and advocating for forward-thinking policies, he emphasised the critical need for resilience, collaboration, and adaptability to secure long-term economic stability and prosperity.

View Andrew Hauser’s Full Speech here.