Business
Why the RBA is delaying much-needed stimulus – afr.com
It doesn’t want to launch an enormous government bond-purchasing program on the same day that Treasury announces massive budget deficits that require record bond issuance.
If the policy of least regret is to “kitchen-sink” this one-in-100-year shock with the RBAs full arsenal of weapons including additional purchases of government and semi-government bonds to put downward pressure on the currency and reduce public sector borrowing costs at a time when the RBA is encouraging politicians to spend as much as possible it seems logical to launch this easing as soon as practicable.
This led many economists, including the market-mover-in-chief Bill Evans, to bring forwa…
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