Recent events highlight the necessity of greater economic and financial markets expertise amongst Board members, as well as a reduction in the ability of government to override RBA decisions.
RBA
Reflections ahead of Philip Lowe’s last speech
Arguably the most significant lesson is that future Governors should intervene with monetary policy far less than he did
The RBA’s mistake was cutting the Cash Rate
By cutting too far the RBA helped create high inflation. Normalising interest rates is the economically prudent response.
Credit Snapshots – March 2019
Bite size updates on the RBA’s responsibility for bubbly house prices and Greece’s rating upgrade and bond issuance.