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Flat White

The Reserve Bank has failed us

11 March 2021

4:00 AM

11 March 2021

4:00 AM

Earlier this month, former Treasurer Peter Costello stated the bleeding obvious when he warned “ultra-low interest rates risk creating the next financial crisis if central banks keep borrowing costs at record lows for longer than necessary”. 

Costello continued:

I understand what’s going on, that we’re trying to reassure everybody that monetary policy and fiscal policy will be supportive for as long as it is needed.

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