Just as football coaches reconsidered when to opt for a two-point conversion after the NFL made a change, the Fed adjusts its decisions in line with an evolving economy.
Monetary policy since the financial crisis has flooded the market with cheap capital. A rate rise will reverse this and put developing economies at risk.
Inflation-targeting central bankers need to focus on stabilising inflation and not be sidetracked into correcting all other macroeconomic and financial problems.
The Reserve Bank of Australia has decided to leave the official cash rate unchanged at a record low of 2%, but said there was scope for a rate cut down the line.
The next step in South African students’ fight against high university fees could be taken beyond campuses. The final battle will be fought at the country’s National Treasury and Reserve Bank.
Last week, Westpac hoisted its lending rate by 20 basis points in a bid to recover the costs of recent capital raisings. There is speculation other banks will follow. Australia’s non-bank lenders could…
Volatility is not going away any time soon, and if the US Fed decision plays the wrong way on the Australian dollar, our central bank could soon be back in the jawboning business.