Friday, March 31, 2023

Philip Lowe career on the line with independent Reserve Bank review to recommend seismic shakeup

After more than six months in the making, the much anticipated review into the Reserve Bank will be handed to Treasurer Jim Chalmers later today.

The independent probe is likely to recommend a dramatic shakeup in the way the RBA operates and could overhaul the role of the RBA board members who've signed off on ten consectutive interest rate rises since May.

The findings of the review could also end the career RBA governor Philip Lowe after his ill-fated comment the interest rates would stay near zero until 2024.

Economist Warren Hogan says Mr Lowe probably won't survive but reckons the RBA board should have intervened to rein the career-defining 2024 comment in,

Here's my analysis on the ABC's AM program and ABC News On Demand

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