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Frydenberg’s three-stage economic recovery is abominably hard to get right – The Conversation AU

He is trying to transition out of stage one while drawing up stage three.



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Gone are the days when economic policy was adjusted once each year by the government in the budget and fine-tuned once each month at meetings of the Reserve Bank board.
The coroanvirus means we havent had a budget in more than a year. What the Reserve Bank has done to interest rates means its monthly board meetings matter less.
Governor Philip Lowe reaffirmed this week that monetary policy was on hold for the foreseeable future. The banks cash rate is as low as it can go (actually well below i…

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