thesaturdaypaper.com.au
Kill the chicken to frighten the monkey, goes the old Chinese proverb; meaning you make an example out of one in order to deter others. This week the Reserve Bank killed its 13th chicken, because the previous 12 had not sufficiently chastened the monkeys. On Tuesday, after having left the official interest rate unchanged since June, the bank jacked the cash rate another 25 basis points to 4.35 per cent, a 12-year high. In the statement giving reasons for the decision, the RBA governor, Michele B…
about 2 years ago