As inflation stumbles its way between 3 and 4 per cent and interest rates remain fairly steady, the question begs, are they successful in bringing down inflation in Australia?

With fiscal policy at odds with monetary policy and the latter seemingly powerless, as a result of the rather restrictive parameters that have been set around it, it is next-to-near impossible for the Australian economy to emulate that of America, regardless of how much progressive economists might wish to try.