The lessons Australia's central bank learnt about money-printing

Money-printing has proven to be both expensive and not very effective. (Image: Depositphotos)

Mon, 31 Oct 2022

Like our Reserve Bank and central banks around the world, the Reserve Bank of Australia embarked on a money-printing spree through the covid crisis.In proportion to the Australian economy, which is seven times larger than ours, it printed about the same amount, A$361 billion ($398b), compared with our central bank's $55b.But the Reserve Bank keeps talking about its programme, known as the large-scale asset-purchase programme (LSAP), as being just another tool in its monetary policy toolkit, with no real assessment of what it achieved. It di...

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