Explain the most significant changes in the international environment and how this may to 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