A new distraction is upon Australian macro management. It’s the Recessionberg versus Lunatic RBA circus. There’s lots of stories on it but the AFR captures the big yawn:
Economist Richard Holden says the tension between fiscal and monetary policy is “Australia’s big economic dilemma”.
…“Monetary policy cannot deliver medium-term growth,” Lowe told central bankers at a conference in the United States late last month. “We risk just pushing up asset prices.”
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