Abbott must wrestle policy power back from the RBA

Policymakers appear to be in a blind panic, desperately cutting rates in the misguided hope that it will have a positive effect. Abbott must take charge and set the country on the right course.

The Prime Minister has copped a lot of flak of late. Much of it deserved – but some of it less so. In particular, the view that the Abbott Government has somehow failed to buttress the economy against the end of the mining boom isn’t quite right.

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