His comments follow a speech today by Reserve Bank governor Graeme Wheeler in which Mr Wheeler sought to answer critics who variously say he should stop lowering interest rates.
Northern hemisphere central banks have been kicking this can down the road for a long time. With special feature audio.
Trying to manage by reading the tea leaves through macro analysis and macro levers, no matter how impressive the tools are becoming is not the engine room of an economy. The engine room is at the transaction level of businesses and consumers and the incentives which drive these transactions