In the Australian press this morning, an argument that the RBA is very much on hold
I concur ... but I digress.
- the RBA is leaning towards keeping rates steady
- Everyone knows about monetary hawks wanting to increase rates
- Monetary doves wanting to lower them
- But I think there also are monetary penguins, Emperor penguins to be precise, standing still over their eggs through the Antarctic winter ... I reckon Glenn Stevens would really like the idea of being an Emperor penguin
The only thing Pascoe has left out is the "headless chooks" ... that would be me (sometimes at least) and many others.