The elephant of scandal in the monetary policy room

The RBA's record is starting to look a little shaky after further Securency revelations. It could be a very challenging 2014 for Glenn Stevens.

The years 2007-2008 were not the Reserve Bank of Australia’s finest.

It raised interest rates four times after the start of the worst credit crisis in 70 years and ignored advice in late 2007 from the company secretary of a subsidiary that the company was paying bribes.

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