The Reserve Bank Leaning Against the Wind in the Early 2000s

I think it's now quite clear that the Reserve Bank did consciously lean against the wind in the early 2000s. They actually did more than that, right? There was an exercise of what's collectively referred to as jaw-baning. Governor McFarland was out there publicly talking about the risks. He said nobody should assume that house prices are going to increase at these rates forever.