Explain the most significant changes in domestic economic conditions in Australia and how this may change the direction of monetary policy in the next year. Refer to the RBA monetary policy for February 2022 and February 2023 and explain the differences in these two reports in relation to the question.

Links to RBA policy https://www.rba.gov.au/publications/smp/2022/feb/pdf/statement-on-monetary-policy-2022-02.pdf https://www.rba.gov.au/publications/smp/2023/feb/pdf/statement-on-monetary-policy-2023-02.pdf