Breaking up a rates ruckus

If the government takes the rates debate in hand by lending cheaper money to the banks, it could lower the dollar and save jobs over a wide front.

The debate is on. When I set out yesterday how Treasurer Wayne Swan now has the power to play a big role in setting the level of interest rates, and that the independence of the Reserve Bank of Australia to set interest rates is crumbling, I realised it was going to the heart of our economic debate.

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