Australia, We Have a Problem

Abstract

Central bankers are supposed to be a rather dour lot. They are charged, after all, with maintaining the monetary and financial integrity of the whole economy. They cultivate a public reputation as prudent, cautious guardians of price stability — an independent, reliable force, ready to pounce at the first signs of economic overheating and inflationary pressure. They are the ones who come in to take away the punch bowl, just when the economic party is getting started.