Business
Reserve Bank to the rescue as debt emergency looms – The Australian
The fact that Australia is now in deflation is bad enough, but two other recent bits of data suggest that “fiscal cliff” doesn’t come close to describing what’s coming, and the government and the RBA will need to change course, radically.
The fact that Australia is now in deflation is bad enough, but two other recent bits of data suggest that fiscal cliff doesnt come close to describing whats coming, and the government and the RBA will need to change course, radically.
Specifically, the RBA’s balance sheet will have to be used to backstop government income support….
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