AFR pundits need monetary policy schooling

Via Patrick Commins at the AFR:

Speaking at an Australian Business Economists’ event in Sydney, Westpac Institutional Bank boss Lyn Cobley wondered why the RBA was even entertaining the idea of implementing experimental policy measures in Australia, such as a quantitative easing (QE) program of the sort implemented in the United States, Europe, Britain and Japan.

…we are on the cusp of being sucked into a massive monetary policy experiment started by the Japanese and taken up with gusto by policymakers in Europe and Japan.

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