The Reserve Bank’s behaviour last week can only be described as bizarre. It’s a sign that it’s lost its bearings and isn’t sure what’s happening in the economy or where it’s headed. What has caused its befuddlement? Our unexpected return to near full employment.
It’s nice to read something grounded in reality. There’s too much soothsaying promising those drowning in debt, to pay off an outrageously inflated asset, a happy ending.