Wednesday, February 15, 2023

Commonwealth Bank boss Matt Comyn calls attacks on RBA governor Philip Lowe "extreme, unwarranted and unedifying"

Matt Comyn tells me that some of the attacks on Philip Lowe have been "extreme, unwarranted and unedifying" - saying Mr Lowe has a tough job and aggressive rate rises are a necessary sledgehammer to cool inflation


Earlier today the CBA has posted a half year profit of $5.2b up ten percent. But Mr Comyn  sees "significant pain" as borrowers begin to feel runaway inflation, higher interest rates, growing mortgage repayments, and falling real estate values.

Mr Comyn  thinks Australia will avoid a recession and tips a "soft economic landing".

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