Singing The Praises Of The Australian Reserve Bank

At least someone, somewhere, is getting these things right:

I've noted previously the remarkably underdiscussed fact that Australia hasn't had a recession in over 20 years. My explanation of why that is is that they have the best central bank in the world, the Reserve Bank of Australia, which just cut interest rates and sent stocks soaring after a period of market weakness driven by pessimism about Chinese growth. This is an important issue because if it's true that Australia has recession-proofed itself through sound monetary policy, there are lessons that larger countries could be learning here.