It would be nice if there were a policy response in the form of a tighter fiscal policy.

He implicitly admitted that they have a bias for a tighter policy. They believe that rates are very low and need to be higher.

Expectations of tighter monetary policy in the U.S., Japan and Europe have been in stark contrast to expectations that the Reserve Bank will begin to ease.

If we have a common currency, the main regulator for policy in the country is the fiscal policy.

The Legislature has been very responsible in terms of good fiscal policy.

We are baffled by their response.