Business
Pandemic could kill off governments’ credit rating bogeyman – Sydney Morning Herald
I guess we shouldn’t be surprised that an economic shock as big as the pandemic is breaking down longstanding rules about how the economy should be managed.
But whereas his goal has been to use low interest rates to stimulate a weak economy and get unemployment down, the Abbott-Turnbull-Morrison governments goal has been to tighten fiscal policy and turn the budget deficit into a surplus.
Lowe hasnt been able to resist the temptation to note – repeatedly – that he could do with more help from fiscal policy. And as the level of interest rates has fallen further and further towards zero, hes been more and more outspoken. Now the official interest rat…
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