The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Wednesday, December 29, 2010

Swedish central bank follows RBA lead on asset prices

The RBA does not always get due credit in the international media. The Riksbank is not pioneering new territory with the conduct of monetary policy in the context of asset prices, as Bloomberg claims. As I have explained many times before here, the RBA has already tilled this turf. Rightly or wrongly, the RBA has been way ahead of other central banks in seeking to modulate asset price innovations.