Dow Jones's James Glynn is one of the oldest specialist RBA-watchers going around. He's a beaut bloke, to boot. His Money Talks Column is always good value. Here is an excerpt:
"AUSTRALIA'S unemployment queues have lengthened alarmingly in recent months, snuffing out all talk of further Reserve Bank rate increases for now. But for interest rate doves -- those looking for a cut, particularly given the volatility on the stockmarket -- the central bank isn't yet ready to signal a shift toward an easing stance. The best way to describe the RBA right now is open-minded. Unemployment jumped to 5.3 per cent in August, from 4.9 per cent as recently as April, rattling assumptions that a once-in-a-century mining boom would ensure prosperity for all."
