This week Stephen and Ivan take credit for the Treasurer getting religion on debt and discuss inflation coming back within the Reserve Bank's target range.   Discussed in this episode: [0:42] Treasurer's good/bad debt speech [1:00] Stephen on infrastructure debt [2:16] Morrison's 2016 position [3:43] Net operating vs net cash balance [3:55] Jim Chalmers' Better Budgeting [5:23] Operational vs capital budgets [6:13] Stephen on 1Q17 CPI data [6:24] RBA's inflation target [9:12] RBA early adopter of inflation targeting [9:20] NZ pioneers inflation targeting [9:37] Gold standard [9:39] Monetary policy regimes [9:44] Milton Friedman's k-percent rule [10:58] Nod to the monetarists [15:40] Expansions don't die of old age [15:55] Wage-price spiral [16:20] Japanese deflation [16:47] Deflation and the Depression [17:13] Disinflation [17:34] Quantitative easing [17:55] Calculating CPI [18:42] Include housing in CPI? [21:29] Unexpected brief 2016 deflation [21:35] RBA cut following deflation [22:28] Underlying inflation still subdued [23:15] Inflation target review Tweet at us @aicdirectors or message us on Facebook with feedback on the show or suggestions for upcoming topics.

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