Opinion
No help from high priests of the Reverse Bank
The central bank is more interested in preserving orthodoxy than doing the heavy lifting for Australians, writes Paul Keating.
Paul KeatingFormer prime ministerIn my office during the latter part of the 1980s and the early 1990s, we had a
nickname for the Reserve Bank – the Reverse Bank.
What earned the bank that nickname was that it was too slow lifting interest rates in the face of the commercial bank credit bubble of the late 1980s and too slow in getting rates down in the early 1990s.
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