How the RBA can have it all

Glenn Stevens' view that lower rates may encourage risk-taking and overstimulate housing is no reason to keep rates elevated. Instead, regulation should change to limit these possibilities.

This major misreading of the economy has been uncomfortable, rather than disastrous, because unemployment has remained subdued despite hours worked hardly changing over the last year. People have stopped looking for work and employers have reduced hours worked rather than sacked people. The mining booming disguised how slowly the rest of the economy was growing and how far rates needed to fall to generate reasonable non-mining growth.


{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles