The RBA’s real own goal

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The AFR has a bunch of quotes today suggesting that the RBA is going to reinstate its easing bias today:

Alan Oster, the chief economist at NAB, questioned the Reserve Bank’s decision to cut the cash rate while simultaneously dropping the easing bias and highlighting positive signs across the economy.

…”If you want to boost confidence, I’m not sure that’s the way to do it. [And] if they were trying to lower the currency, then that was an own-goal.”

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.