If the Reserve Bank had acted as it usually does, the cash rate would have dipped briefly negative in August.
Articles on RBA
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Yes, the bank would effectively pay you to borrow money. But negative interest rates won’t please savers, nor will they meet the big challenges of economic recovery.
There’s more to that Coronavirus. Even before it, businesses weren’t keen to invest.
The most important change is a guarantee about the future, one the RBA can be held to.
Guaranteeing that it will overshoot its target for some time is the best way of getting inflation up.
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.
Its central scenario is the worst recession in 70 years. Its worst case scenario has the effects lingering for a decade.
The global financial crisis taught us recoveries needn’t be V-shaped.
Reserve Bank Governor Philip Lowe has laid out a road map for measures to drive a range of other interest rates down, now that its cash rate has hit effective zero.
Rather than offering early access to super, the government could allow people to borrow against it, at a zero interest rate.
After the Reserve Bank cuts its cash rate to effective zero, it’s considering something similar for other rates.
The Reserve Bank has scheduled an announcement for Thursday. The government will unveil a second coronavirus stimulus package within days.
Never has a virus featured so prominently in a Reserve Bank statement.
With skill and support where needed, the government can get us through this, but it’ll be the biggest challenge since the global financial crisis.
Modern Monetary Theory allows governments more freedom to run deficits, freedom the Australian government might need.
In a speech broadcast live on the Reserve Bank website, the governor explained how quantitative easing would work. He won’t try it until the cash rate hits 0.25%.
MARTIN stands for “Macroeconomic Relationships for Targeting Inflation”. The bank’s new computer model says there’s much it can do to boost the economy after its cash rate hits zero.
Central banks are increasingly taking into account climate change in deciding how to invest.
Treasury Secretary Steven Kennedy says its up to the Reserve Bank to boost the economy. In normal times, that’s not his job.
Evidence for the prime minister’s contention that the banks are “profiteering” is thin on the ground.
Top contributors
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Scientia Professor of Economics, UNSW
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Professorial Fellow, University of Canberra
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Lecturer in Economics, Monash University
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Senior lecturer, Canberra School of Government, University of Canberra
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Associate Professor, School of Economics, University of Sydney
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Associate Professor, Research School of Economics, and Research Associate, Centre for Applied Macroeconomic Analysis, Australian National University
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Emeritus Professor of Finance, The University of Melbourne
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Adjunct Professor, Swinburne University of Technology
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Industry Professor, University of Technology Sydney
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Emeritus Professor of Economics (Griffith University) and Teaching Associate (University of Queensland), Griffith University
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Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
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Honorary Associate Professor in the School of History, Research School of Social Sciences, Australian National University
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Program Director, Trade and Investment, United States Studies Centre, University of Sydney
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Dean of Business School, University of Southern Queensland