Thursday, April 20, 2023

Reserve Bank review critical of governor Philip Lowe's 2024 near rates signal - special update for Perth edition of AM

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 economic was bouncing back.

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.

Here's my initial reading of the Review for the Perth edition of AM

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