Hi Cuzo, "very wrong" a very definite statement. But would carry a little more weight if it was accompanied by a statement of what might have been "very right". Keep in mind that the RBA board has had a pretty diverse cast of people on it. As far as monetary policy is concerned, I think Australia has been pretty well served by the RBA. Not perfect, but what institution is. If we had had a fiscal regime half as good as the RBA has been, interest rates might not be as high. But we live in a democracy, and pay a price[a well worthwhile price I believe], for the "inefficiencies" that system produces.
I find it interesting that every time there is an interest rate rise, the usual suspects start whining.
What would we rather have, a "Greenspanian Utopia" of loose monetary policy.
