Thursday, April 20, 2023

Philip Lowe future in doubt as Reserve Bank review criticises guidance of near zero rates til 2024

The much-anticipated review into the Reserve Bank has delivered scathing criticism of governor Philip Lowe's signal during pandemic that interest rates could stay near zero until 2024.

The review says Mr Lowe's forward guidance carried a "significant reputational risk" despite signs of rising inflation and warnings the economy was bouncing back to life.

The sharp criticism - among a range of recommendations designed to overhaul to the RBA - cast doubt on whether Philip Lowe will be reappointed for a second term.

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