Confirmed: Labor has no confidence in Reserve Bank governor

8 Responses to Confirmed: Labor has no confidence in Reserve Bank governor

1. C.L. says:

   15 February, 2023 at 11:51 pm

   Finance Minister Katy Gallagher has affirmed that the government has full confidence in Reserve Bank governor Philip Lowe, who will appear at a highly anticipated senate estimates committee hearing later this morning.

   Greens senator Nick McKim is pushing Senator Gallagher to intervene in monetary policy, as he claims is possible under Section 11 of the Reserve Bank Act which he says “gives the government the power to set interest rates in the event that it believes that the bank’s policy is not to the greatest advantage of the people of Australia”.

   Senator Gallagher said the RBA was independent.
   “I think the Reserve Bank board’s decisions reflect their desire to deal with the inflation challenge, that is a huge issue for everybody, and they have a job to do”.

   When asked by Senator McKim whether the government has “full confidence” in the RBA governor, Senator Gallagher replied “yes”.

   —————–
   Patrick Commins in The Australian
2. Texas Jack says:

   16 February, 2023 at 5:09 am

   What were you expecting, C.L.? The chief Mean Girl to be forthright?
3. Buccaneer says:

   16 February, 2023 at 7:02 am

   BA social work, busy making more work for her fellow union members.
4. Petros says:

   16 February, 2023 at 7:04 am

   Do we need a central bank?
5. Entropy says:

   17 February, 2023 at 8:11 am

   Mean Girl Gallagher is no Peter Walsh. I suspect more of a Jim Cairns.
6. Entropy says:

   17 February, 2023 at 8:12 am

   Sticking “social” in front of a word always reverses its meaning.
7. Entropy says:

   17 February, 2023 at 8:14 am

   Greens senator Nick McKim is pushing Senator Gallagher to intervene in monetary policy,

   of course he does: his constituents are inner city virtue signallers prepared to pay ludicrous amounts for their houses to be in the right suburbs near the right coffee shops.
8. Crusader says:

   21 February, 2023 at 11:11 am

   RBA left it too late. Now we will have a roller-coaster ride as the global inflation effect hits us in rates. RBA is largely a spectator when USD rates are rising: we either follow or take it through currency effects.