How the fight against deflation is killing us

Together, the desperate global inflation fight and China's reform efforts are preserving Australia as a big mining pit. And the Reserve Bank is largely helpless.

On Friday the Reserve Bank laid bare the bind that it’s in. No, it wasn’t the Statement on Monetary Policy, although as usual it was in there between the lines (The RBA's crystal ball is clear as mudNovember 8). It was assistant governor Guy Debelle’s speech in Washington.

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