Real reason inflation will persist as a problem
ANALYSIS: The funding-for-lending programme should never have got off the ground.
NBR Columnist John McDermott speaks with Brent Edwards
With inflation at its highest level in decades, you would think that the Reserve Bank would do everything it could to fix the problem. It is undoubtedly pushing up interest rates as required. However, what is genuinely dumbfounding is that it is allowing its monetary base to expand.
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