Wednesday, December 16, 2009

Monetary policy already "back in the normal range" - Reserve

And the Bank says banks like Westpac helped get it there. Truly.

The key quote from Ric Battellino's extraordinary speech, just delivered...

"Taking these considerations into account, it would be reasonable to conclude that the overall stance of monetary policy is now back in the normal range, though in the expansionary segment of that range."

It's worth reading the whole thing:

Some Comments on Bank Funding

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