WEEKEND ECONOMIST: RBA in a hurry

Reserve Bank governor Glenn Stevens has made it clear the RBA is in the mood to hike interest rates, with a 50 basis point rise in November now looking likely, followed by a smaller move in December.

He noted: "If we were prepared to cut rates rapidly, to a very low level, in response to a threat but were then too timid to lessen that stimulus in a timely way when the threat had passed, we would have a bias in our monetary policy framework.”

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