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Stephen Grenville

The RBA's job is to back banks, not bail out gamblers

It’s quite a while since I was at the Reserve Bank, but one of my tasks there was to draft replies to letters received. So let me try my hand at responding to Christopher Joye’s "Virus gets upper hand in battle against central banks" (AFR, March 13).

Dear Christopher,

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Stephen Grenville is a former deputy governor of the Reserve Bank of Australia and a non-resident fellow of the Lowy Institute.

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    Original URL: https://www.afr.com/policy/economy/the-rba-s-job-is-to-back-banks-not-bail-out-gamblers-20200316-p54agp