Never Let the RBA Minutes Get in the Way of a Beat-Up

The RBA may now be releasing minutes of its deliberations, but that won’t stop the media from reading their own views into the RBA’s public comments.  Under the headline ‘Reserve Bank was “not happy John,”’ Colin Brinsden writes:

THE Reserve Bank of Australia was none too happy with the Howard government’s election spend-fest, the minutes from its November board meeting suggest.

The minutes contain no such implication and Brinsden conveniently refrains from quoting the bottom-line of the RBA’s discussion:

This meant that fiscal policy was roughly neutral in its overall effect on growth as conventionally measured.

posted on 05 December 2007 by skirchner in Economics, Financial Markets

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