I will offer some thoughts on the FSR itself tomorrow, but I had few quick reactions to the comments made at the press conference this morning about the MediaWorks OCR leak and related issues.
I had heard that the Reserve Bank had been considering backtracking on the discontinuation of lock-ups, and had in fact been consulting selected journalists on the conditions on which media lock-ups might be reinstated. That was confirmed by the Governor this morning.
Frankly, they seem all over the place. Less than a month ago, they announced the discontinuation of lock-ups. I thought that was the right decision at the time (and had called for it earlier). Presumably the Bank had carefully considered the various options open to it then, and decided on balance that (a) consultation with affected parties was not required, and (b) that it was not appropriate to continue with lock-ups. One wonders what has changed…
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Utopia, you are standing in it! 
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