TGA TALK (AGAIN)

The 'tourist says all the negative liquidity withdrawal forecasts might prove correct, but unfortunately, it's not quite so easy

I struggled a bit writing this piece because it’s about financial plumbing (which is tough to make exciting). And not only that, there is no obvious conclusion. Yet, I think it’s important because there is a lot of discussion regarding the Treasury’s intention to replenish the TGA (the Treasury General Account) and some of the commentators are forecasti…