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Paul Keating says the RBA is not doing what is needed to stop the COVID recession worsening – ABC News
Paul Keating accuses the Reserve Bank of indolence and failing to do what is necessary to prevent the recession getting worse, potentially by directly financing the Government’s budget deficit to try and boost employment.
Paul Keating has accused the Reserve Bank of conservatism, laziness and failing to do what is necessary to head off the worst of the coronavirus-induced economic crisis.
Key points:
- Former Prime Minister Paul Keating has accused the Reserve Bank of “indolence”
- He says the RBA should purchase government bonds directly from Treasury to finance the Commonwealth’s deficit spending
- Mr Keating argues the Government and RBA should take unorthodox actions to protect and create …
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