The Role of the Reserve Bank in Raising Rates

Debate focused on the role of the Reserve Bank in raising rates. Was that fair criticism? It's true that we did raise rates quite a lot, and it's amazing how high they were. We all agreed that had to be done. There wasn't any disagreement amongst the three entities. And if you see, as I think the popular press did, that the recession was just a policy era. You put up interest rates too much. Mm-hmm. But if you see the recession as part of this asset price, Buhrman Bus, which is the way I see it,  it is the way Paul Keating saw it when he said the recession we