"In the end, of course, as I’ve said before, Australia is a currency union. We have one currency, one monetary policy and in the end we have to set that policy basically for the average experience of the country, knowing that quite possibly nobody is actually at average, some are stronger, some are weaker, maybe very few people are having the average experience. But we can’t set it for the leading edge or for the trailing edge, that would be the wrong thing to do. So all we can do is try to be cognisant of those differences, to work out whether they’re going to feed through international performance in some important way because if they do, that’s very relevant. But in the end, of course we have to set our policy instrument, and we only have the one, for overall performance in order to maintain the value of money over the medium term and that’s our job."
