A fully cashless society has often been presented as natural or inevitable. The experiences of Sweden and Zimbabwe highlight some pitfalls.
Guaranteeing that it will overshoot its target for some time is the best way of getting inflation up.
The Reserve Bank Australia has exhausted the limits of monetary policy, There's no magic pudding, says governor Philip Lowe.
Almost all of the Reserve Bank's new Term Funding Facility has ended up in the hands of big businesses. There's a way to make sure small businesses get it.
We're running out of interest rates to cut to keep the economy from sinking. Before the next recession occurs, we need to come with an effective approach to monetary policy.
The US Fed's surprise rate cut might not achieve a lot. But it definitely sends a message the COVID-19 virus crisis is a really big deal.
Central banks are increasingly taking into account climate change in deciding how to invest.
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?
Deep Saini and Michelle Grattan discuss the consequences of the controversial phone call between Morrison and Trump as revealed by the New York Times.
If needed, Governor Lowe will cut rates to near zero, and then effectivly cut them further.
After decades of research showing the link between union power and wages growth, government economists don't want to talk about it.
With a relatively low debt to GDP ratio, Australia was never at risk of becoming Greece. But Germany, with negative interest rates and scant prospects for economic growth, is an open question.
The next set of instructions handed to the Reserve Bank will have to be realistic. That might mean a big change.
We're facing a global economic problem that no one really understands or knows how to fix.
Under cover of a speech from the Reserve Bank governor, the Prudential Regulation Authority has moved to make it 10% easier to borrow.
Frydenberg and Morrison will have to switch from boasting about the economy to fixing it, quickly.
Interest rate cuts don't work like they used to, and they help us put off the hard things we need to do to improve our lives.
For economics to play a more helpful, critical role, it must abandon blind faith in the free market and embrace the social, historical, and environmental context in which economics actually happens.
Immigration and light rail are both worthy topics of discussion, but it's time to discuss a new monetary policy framework.
The new RBA monetary statement is just like the old one.