Yesterday I noted that AFR monetary hacks have launched a campaign against further RBA rate cuts to preserve bank margins ahead of the good of the economy. That continues today:
“Phil Lowe and the RBA board have done well to resist the calls for super-low interest rates,” former Reserve Bank board member Warwick McKibbin says.
“Leaving interest rates at already low levels and using the position of governor to push for other policy changes is the only responsible option that remains for the RBA,” says McKibbin, who is now director of the Australian National University’s Centre for Applied Macroeconomic Analysis.
