Clearly, Phil Lowe is busy preparing his post-RBA career prospects:
Reserve Bank governor Philip Lowe briefed traders at the country’s major banks at a private lunch hosted by Barrenjoey, two days after the central bank surprised markets with a hawkish outlook. The lunch coincided with a rise in bond yields.
Dr Lowe attended the investment bank’s event after declining to make a public address on the outlook for monetary policy, which he has done after the first RBA board meeting of the year since 2017.
…RBA officials said Dr Lowe was too busy to speak at a public event following the central bank’s decision to raise rates by 0.25 of a percentage point on Tuesday, as he has done for the last six years, and noted he is to appear before a parliamentary committee next week.
Perhaps this is just a part of the general pile-on. You can never trust iMSM reporting. Even so, it is a bad look for the million-dollar man.
Given the RBA review, Lowe’s position as the most hated man in Australia, and with more rate hikes to come, Captain Phil has evidently decided to feather his future nest.
Frankly, when he gets the arse, Albo should halve the incoming governor’s pay to restore some semblance of a civil service ethos.
