It turns out that not only can politicians survive such turnarounds, but they can actually prosper. Policy dexterity is applauded and rewarded by voters who are prepared to be convinced that policy should be able to change with the times.
From a time when it said literally nothing public about what it was doing, the RBA — mostly through its governors — became a regular contributor to the public debate. This sometimes meant central banks didn't have to act to move interest rates as they might otherwise.In Australia, given the very long periods since 1990 when monetary policy has carried a disproportionate load in setting economic conditions — because of political obsessions with "debt and deficits" or equally political caution with using tax and spending policies to affect economic activity — the Reserve Bank has been centre stage, often when it should not have had to be there.
Unfortunately, the public utterances of current Reserve Bank governor Philip Lowe, in trying to boost confidence during COVID by saying interest rates were not going to rise for a couple of years, has caused all sorts of grief to individuals, and for that matter, to Lowe's credibility. Central amongst the questions should be why he felt he had to apply a sledgehammer to expectations when the RBA's own statement of monetary policy on Friday noted repeatedly that inflation seems to be peaking around the world and that inflationary expectations, and wages, are not ratcheting up spectacularly.
LOL world wide monetary systems..but, yeah, ok, blame Labor
…sad state of affairs ABC, used to count on your reporting as unbiased and fair….unsubscribed. Since Ita took over as chair there seems to be a definite political sway?
It is simple why actually. Sī vīs pācem, parā bellum
as the RBA wields the sledgehammer? or as Labor does nothing to reduce inflation? Remember he didn't even know the rates when he was campaigning for a better future! LOL auspol
the ABC and Guardian are concerned for taxpayers? that's news
It's settled policy. The crossbenchers should go live in Malmo to get a taste of the havoc their cherished policies bring
▪️ “past TRAUMAS are HAUNTING them” ▪️ “wields the SLEDGEHAMMER” 😢Its sooo very sad to watch our go “Murdoch” & “tabloid” in its expression & style, and call it ANALYSIS.
Energy prices, inflation, Real Estate prices, food prices, rental affordability, economy, Energy supply. Things seem precarious on many economic fronts all at the same time. Reinventing capitalism and stop fighting inflation Will be pretty gutsy but why not.
Bit of rubbish commentary here
Labor is right to feel constrained about past traumas considering they were mainly creations of the news media (including the ABC) & a rampant, raging, sometimes lunatic LNP Opposition. Policies should be met with reasoned alternatives rather than outright rat bag ideologies.
Government's of both persuasions are experts at wasting taxpayers money to avoid taking responsibility for difficult issues. All asylum seeker processing should effected onshore under the rue of the taxpayer; not hidden away from the public eye in obscure offshore facilities.
The biggest inflationary pressures now stem from a serious crisis in affordable housing — something the malevolent Albanese govt has engineering with its unconscionable mass immigration policy designed to secure votes from aliens to shoal up it miserable 32% Aust'n voter support.
What a rubbish article; everything in it is wrong, from the shallow deep Green critique of Nauru detention policy to inflation being due to international forces and housing crisis. Whatever Laura Tingle is payed by ABC, it’s too much.
Don't worry a voice will solve everything according to Albo
Hardly the rba’s fault the govt has abandoned the field on economic growth, productivity, inflation and rates, leaving the heavy lifting to the rba. Inflation at 7.8%… rates must go up! And up again next month!! Not rocket science.
Tingle says professional asylum seeker B Boochani ‘endured the horrors of Manus Island’ & is calling for a Royal Commission into Australia’s refugee policy. Here’s a photo of him suffering a traumatic day at a Manus beach with other military aged male friends.
Dear Laura, Inflation destroys lives. Rhetoric? No reality. Out of control inflation if not dealt with will create generational poverty not seen here before. The narrative to go soft is irresponsible.
the SPIN doctor is on long service leave
Albanese will be swept away by the economic crisis without achieving anything.
Labor governments normal practise throwing money around $422 million to take care of a few asylum seekers on Nauru instead of closing the facility and returning the people to their homelands,
Funny how the RBA always does it when labor is in power.
Albaneasel the Weasel doesn't care ..... he's all sorted .........
Just remember the last 9 years of Liberal policy has caused the shit we are in
One theory suggests that the Black Knight satellite isn't alien but actually an ancient human creation. The idea here is that an ancient race of humans (or other intelligent animals on Earth) were scientifically advanced and launched the satellite before becoming extinct.