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2012 08

Peter Costello and Reserve Bank Transparency

Peter Costello in 2012:

The RBA… as a public institution it must be subject to public scrutiny.

Peter Costello in 2004:

The Reserve Bank of Australia has used powers given to it by Treasurer Peter Costello to issue a “conclusive certificate” to prevent publication of the RBA board’s minutes, saying their release is not in the public interest.

The Reserve Bank’s action on Thursday 25 November came just three days before the start of a hearing in the Administrative Appeals Tribunal in which The Weekend Australian newspaper was set to challenge the RBA’s decision under the Freedom of Information Act not to release the minutes of its meetings and voting records for 2003/04.

posted on 23 August 2012 by skirchner in Economics, Monetary Policy

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The Case Against RBA Exchange Rate Intervention

I have an op-ed in today’s Business Spectator making the case against RBA intervention in the foreign exchange market. Text below the fold for those who are not registered.

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posted on 12 August 2012 by skirchner in Economics, Financial Markets

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We Welcome Foreign Investment, Except When We Don’t

I have an op-ed in today’s Australian arguing the federal coalition had the right policy on foreign direct investment 24 years ago when it was committed to abolishing the Foreign Investment Review Board. The recent debate on this issue within the coalition almost perfectly mirrors a similar debate in the late 1980s, only this time, the National Party seems to be getting its way. Full text below the fold (may differ slightly from published version).

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posted on 05 August 2012 by skirchner in Economics, Foreign Investment

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