Forgetting to unlock the stable door
Fair to say that yesterday’s rate decision surprised the pundits.
Headline in the Australian Financial Review, July 6: “‘The horse is about to bolt’: Auctions boom as rates fall”
And this morning’s AFR had a new question: “How did they get it so wrong?”
How indeed?

The RBA neglected to read the papers
Micahel Stepehonson, man of the media
Dr Mumbo was interested to read Mi3’s news this morning that the trade title has parted ways with Southern Cross Austereo’s Listnr and done a deal with ARN Media to produce their podcast instead.
ARN’s new chief operations officer Michael Stephenson is effusive in the article about the Mi3’s “in depth journalism and insight”.
This claim of journalistic excellence is only a tad undermined by the fact that Mi3 name him as Micahel Stepehonson.