Austrian fundies attack RBA “currency debasement”

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From the AFR comes rent-seekers Hugh Giddy is Senior Portfolio Manager and Anton Tagliaferro Investment director at Investors Mutual Limited:

In many of these poorer-performing economies overseas, central banks have seen fit to take far more extreme action than has been taken by the RBA to date.

Your first action on being installed as governor should be to assure Australians unequivocally that you will not debase our money. As a consequence, it is our strong opinion that lower interest rates than the current historic lows, or even the notion of negative rates, should be totally dismissed as viable policy options.

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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.