We are looking at the permanent destruction of what is left of the Reserve Bank of Australia’s brand credibility. Why? This from the AFR:
Treasurer Josh Frydenberg has confirmed he is closely liaising with the Reserve Bank of Australia and Treasury about ensuring the economy avoids a credit squeeze, amid market concerns the royal commission’s damning findings into misconduct in the financial services sector risks triggering a credit crunch.
…”I talk to Treasury all the time and the Reserve Bank governor yesterday and other key players in this field about the importance of maintaining access to credit in the market and the importance of maintaining stability across the economy,” Mr Frydenberg said on ABC radio.
