The Reserve Bank’s ability to influence the direction of interest rates has been reduced by another sharp rise in money market interest rates for no apparent reason, writes Glenn Dyer.
Money market interest
Short term credit rate still refuse to be tamed
Our short term credit freeze is refusing to thaw and the Reserve Bank is finding it much harder to cut short term money market interest rates than it thought.
RBA boss Glenn Stevens: He came, he spent, he soothed
He came, he spoke, he soothed. I am talking about Reserve Bank Governor, Glenn Stevens, whose calm, bald-pated central banker visage fronted the House of Reps Standing Committee on Finance and Economics this morning on the Gold Coast and said the right things, writes Glenn Dyer.
