Economists believe that a limited program of unconventional monetary policy could be an outsize fillip to the economy. But they are also well aware of its limitations, writes Matthew Cranston.
"To QE or not to QE?" That was the apt title of an analysis by Citi on quantitative easing after the Reserve Bank cut interest rates for the first time in almost three years in June this year.
Citi's conclusion then was that the RBA’s possible pursuit of unconventional monetary policy was "at best a remote option".
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
