Opinion
The government's bazooka is biggest, not the RBA's
There is only so much that the RBA can do to make lenders lend and borrowers borrow. Direct injections of cash are the government's job.
Stephen GrenvilleFormer central bankerDear Christopher,
From your column in AFR Weekend – It doesn't pay to fight the RBA, March 21-22 – I see that the RBA is back in your good books again, after initially being slow to follow your insistent advice. It largely acted as you instructed and we are saved.
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