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Hi timber This is [what I think is] a balanced summary of the...

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Dazedandconfused

7,383 Posts.

2011

21/10/14

18:56

Post #: 14158522
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Originally posted by timber1956 ↑

Dazed

There is a lot that is puzzling about Debelle's statement.

1. He is not best qualified person to make such a statement, given his relative lack of market experience;
2. It is a rather irresponsible thing for a central banker to say. I am not sure that these comments are consistent with the RBA's mandate is to promote system stability. Normally, when faced by a major threat (like the perceived housing bubble in Australia), the RBA and APRA tend to work with the banks behind the scenes to manage systemic risk, not make statement likely to start a stampede.
3. If he is wrong, he will damage the reputation of the RBA and threaten its position as an effective regulator.
4. The RBA is not prescient. Their overview of any situation is less advanced than the banks who get to initiate action in real time, where as the RBA is always reacting.

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Hi timber

This is [what I think is] a balanced summary of the conflicting opinions about Debelle's speech.

http://www.copyright link/p/markets/cheers_and_jeers_for_guy_debelle_vQCknDSAtLtrvnBqjlhfHN

You would have to think that he cleared his speech in advance with his superiors.
2 Upvote

0 Great analysis

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