AMP Capital chief economist Shane Oliver, quoted in the local press here today.
Speaking on the RBA's assessment of the economy right up to, well, just a few days ago when Governor Lowe finally relented.
"They just got it wrong" said Oliver.
Yes, they did.
Adds the article:
Admitting the bank's target for unemployment and inflation simply can't be met with current monetary policy settings, the governor also made the case for extra spending by governments and "structural policies" to help businesses expand and employ more staff.
It's the biggest change in direction by the RBA since 2008 when the bank lifted rates early in the year and then slashed them months later as the Global Financial Crisis hit.
RBA Governor.
Up until now, Dr. No.
