The reserve bank has got a lot more intellect and prowess than to listen to the knucklehead politicians on all sides. The below from the deputy , a man with a great name, guy debelle.Taking inspiration from Shann, tonight I will talk to you about the role the Reserve Bank has played in responding to the current crisis. I will describe what the Reserve Bank has done over the past year to support the economy through the COVID pandemic. I will talk about why we have taken these actions and some of the thinking behind the policy decisions. Then I will look at the outcomes of these policy actions to date. Finally, I will highlight some of the issues the Bank will be thinking about in the period ahead.
Policy actions during COVID
The Reserve Bank of Australia (RBA) has taken a number of complementary policy actions to support the Australian economy since the onset of COVID. The RBA has lowered its policy interest rate to near zero, set a target for the 3-year government bond yield, enhanced its forward guidance, commenced a program of purchasing government bonds and provided long-term low-cost funding to the banking system. I will explain each of these actions in more detail shortly.
Now lapdog, you think Scomo is pretty lame in the cranium. How could you possibly think that he knows more than the RBA ?
As Llyeyton would say, or grunt, C'mon !
