Business
Michael Pascoe: The RBA crumbles under buy-now-pay-later pressure – The New Daily
On Friday the RBA went with the political flow and quietly confirmed it will continue to protect the multi billion-dollar buy-now-pay-later (BNPL) industry.
After generations of Australian central bankers fought the good fight to attain a large degree of independence and a reputation for integrity, it is sad to see the RBA forsake its principles under a whiff of political pressure.
On Friday the traditional day for ‘taking out the garbage’ the RBA went with the political flow and quietly confirmed it will continue to protect the multi billion-dollar, buy-now-pay-later (BNPL) industry from competitive neutrality.
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