An elementary economics error
Australia raises rates from 49-year low
First G20 economy to tighten policy since crisis
screams the headline of the FT. Yet if anyone knows one thing about Australia it is that it is upside down. And so when they raise rates it is fact a loosening of policy, not a tightening, i.e. the same as if the ECB or BoE had lowered rates.
Labels: Australia
posted by Matthew @ 10/06/2009 06:52:00 AM
Comments: 2
