Just in time for disaster:
Yes, folks, here we are at the great Australian calamity and the sleeping RBA just restored a positive carry into the Australian dollar.
It has no interest rate curve left to stimulate credit. All it has now is the currency and it is busy doing nothing to ensure that it rises into disaster, exacerbating a viral deflationary shock unseen in a century.
The RBA must call an emergency meeting, cut the last 25bps and tell us what kind of QE it is going to do.
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