RBA's Battellino Says Central Banks Aware of Acting Too Slowly

Central bankers throughout the world are extremely aware of acting too slowly to curb “extraordinary” liquidity-easing measures, said the Reserve Bank of Australia’s Deputy Governor Ric Battellino in Sydney today. Indeed “the high state of awareness that currently exists about the risk of being too slow to reverse recent exceptional measures” is likely to “limit the probability of such a mistake being made,” Battellino said. Despite these cautious warnings, it’s still too early to decide whether aggressive policy measures have been effective.