In the early 1990s, entrenched inflation was broken by the “recession we had to have”, as it became known. Since then, “core” consumer price inflation has averaged around 2.6% which, coincidentally, is almost the midpoint of the RBA’s target range of 2%-3%. However, it has trended lower and lower since 2009 and it has not been above 2.0% since late 2015, leading some economists to forecast further official rate cuts....