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Michael Stutchbury

Repair fiscal policy to stop politicians fighting RBA’s monetary policy

Political ill-discipline has produced the biggest spending increase for a first-time government since the Whitlam era 50 years ago.

Michele Bullock is wary of not making even factual remarks about how the central bank’s monetary policy interacts with the government’s fiscal policy. It’s off-limits.

No way could Australia’s Reserve Bank governor offer public advice anything like what her Irish counterpart gave to Ireland’s new finance minister last month.

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Michael Stutchbury is the former editor-in-chief and editor-at-large of The Australian Financial Review. Michael left in 2025 after more than four decades writing and editing national newspapers.

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    Original URL: https://www.afr.com/business-summit/repair-fiscal-policy-to-stop-politicians-fighting-rba-s-monetary-policy-20250304-p5lgut