When RBA kiss-arses like old Rossco turn, you know your central bank has lost its credibility. With the labour market so “tight”, surely wages could take off at any moment, halting the fall in inflation – or worse, sending it back up. What’s unnerving them is an old ’70s-model NAIRU machine in the corner, with
The post Gittins: RBA has no idea what it is doing appeared first on MacroBusiness.