The Monetary Conditions Index But what of the Reserve Bank’s Monetary Conditions Index? Is the MCI, as some have suggested, really to blame for much of the current economic slowdown, or at very least for the sharp increase in interest rates recently?
But I find it difficult to escape the conclusion that investment in human capital is central to taking advantage of the opportunities that we have built for ourselves. Looking at where the jobs have been created over the past couple of decades, two trends stand out.