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Closed minds and huge mistakes at the RBA are costing jobs: Economist – Yahoo Finance Australia
If the Reserve Bank was fair dinkum about economic growth and its inflation target, here’s what it would do, writes independent economist Stephen Koukoulas.
(Source: Getty)
The Reserve Bank of Australia has failed to meet its inflation and employment target for what will soon be a decade.
It has a list of excuses a kilometre long why this is the case.
In the appearance of RBA Governor Philip Lowe and his Deputy Guy Debelle before the House of Representatives Standing Committee on Economics, the RBA was starkly exposed as a closed shop, pigheaded on policy and largely unaccountable.
Andrew Leigh, the Deputy Chair of the Committee, asked the RBA a number…
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