Articles on Monetary policy

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Would the economy be in better shape if the RBA had cut interest rates sooner? AAP Image/Bianca De Marchi)

Vital Signs: does monetary policy work any more?

The Reserve Bank of Australia says it's prepared to ease monetary policy further if needed to stimulate the economy. But is the policy working when interests rates are so low?
Reserve Bank governor Philip Lowe (right) says he needs government help to boost the economy. Treasurer Josh Frydenberg is yet to provide it. Dan Himbrechts/AAP

We asked 13 economists how to fix things. All back the RBA governor over the treasurer

Every one of the 13 economists surveyed by The Conversation thinks more stimulus is needed. None think it should all come from the Reserve Bank. Most think the budget surplus can wait.
This week’s Essential poll showed 56% of voters would prioritise stimulating the Australian economy over getting back to budget surplus. Mick Tsikas/AAP

Politics with Michelle Grattan: Ross Gittins on the government’s ‘surplus obsession’

Ross Gittins on the government’s “surplus obsession” The Conversation, CC BY29.3 MB (download)
As the Australian economy continues to struggle, many argue that stimulus is needed, urging the government to abandon its "surplus obsession".
Debate about SA Reserve Bank’s mandate must be done in a more considered manner, informed by evidence. Shutterstock

Evolution of ANC economic policy sheds light on squabble over the central bank

The debate about the mandate of the South African Reserve Bank must be located within a clearly articulated political vision and social compact on the kind of society South Africans aspire to.
City Skyline and Main River in Frankfurt, Germany. Valerian Alecsa / Shutterstock

New monetary policies: fuelling metropolisation and megalopolisation in Europe?

Economic polarisation across Europe is becoming an important phenomenon, in part driven by monetary policies that can increase office prices and can even affect the fundamentals that drive the markets.
Whether there is a floor beneath which cuts in interest rate are ineffective depends in part on house prices. Shutterstock

Vital Signs: when cutting interest rates might not help

It is thought that it doesn't help much to cut official interest rates toward or beyond zero, and maybe it doesn't, but new research suggests the answer has a lot to do with the housing market.
People queuing to withdraw cash at an ATM. Demonetisation in India has not met its target and actually reinforced informal networks. Santosh Kumar

The shock of Indian demonetisation: a failed attempt to formalise the economy

Instead of a clear movement toward more formalised economic transactions, demonetisation in India has reinforced the informal economy.

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