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Firing him takes away the banks independents. If the government does sack him I cannot see it making any difference, the new governor will need to keep raising rates anyway. The government should not have printed so much currency, which is why we are in this mess.
Lowe is just a figurehead, a puppet. Whosoever replaces him will be cut from the same cloth.
BIS and Wall street call the financial shots, not anyone in Australia.
Even US commentators are calling J Powell incompetent……So Phillip Lowe would also qualify….but the usual Inflation modelling didn't include the Covid shock…
Many claim the Inflation modelling is dismissing the Price push from the major Companies….
In particular the companies with limited competition….
Before we mention wealthy Immigration and money laundering skewing the markets.
Lowe by name, low life by nature 😆
I’m glad he raised rates but he’s a rotter so it makes no odds!
The RBA cannot do this on their own. While Philip is cranking the lever, the government are handing out IR reforms including pay rises, negating any attempts to bring inflation down. Bowen is responsible for the high power bills…and where is Albo? Picking out his outfit for Mardi Gras. They all need to work together. The government needs to stop spending too.
Naaah they won't fire him.
No he will get a corporate 6 figure job on Wall Street and a pension for life … that’s the Aussie wayb😂
people look at me in disgust when i say id like the rates to go 6-10% its like saving money is a terrible idea.
I hope they dont fire him, its been easy just doing the opposite to what ever he says and your safe,🙄
We are only at the emergency cash rate..wake me up at 6%
If he gets the sack. I’m assuming they will replace him with someone who is willing to cave to media and public demand and put raises on hold. Consequently the Aussie dollar would get smashed, inflation would go thru the roof. There is no win here. The best move for five to ten years down the road is to keep raising the interest rates!
Heise your absolutely right about the blame being put at the feet of the State governments. Draconian lockdowns and over stimulus were their doing!!
The RESERVE BANK, And the FEDRAL BANK. Are a law among them self.! Thats why albo is sleeping thru this screw job.!
Please look at all the other countries well over 4% Canada, USA, UK New Zealand and so on we have a massive gap that needs to be closed up THINKING 🤔🤔🤔😉😉
It’s the old saying blame someone else not RBA problem blame others and take no responsibility come on wake up 🤔🤔🤔
Philip Lowe should have been fired months ago when he said rates would not rise until 2024. Many people took his advise, …and now they are fucked, and will more than likely loose their house, marriage and in some cases be driven to suicide over him saying they were protected by rates not rising for at least 18 months from his statement. …This is NOT my case, but i feel so sorry for all effected by his incompetence as the head of the RBA !!
I've seen some crazy stuff in the MSN media lately. It's like the RBA raises rates to punish people, instead of economic necessity!
The increase has NOT been hard but the softest of the Western countries. It should be 6-7% by now.
Well, depends if you make money off Lowes decisions 😂
Someone has to sell for someone to buy it 🤷♂️
It's now Phillip High 🤣
Hes only doing exactly what hes told to do.
When is the trail for the bed wetting state premiers who blew billions for the sniffles? They caused this mess 😷🐑
Did anyone else in this forum study economics at school? One of the functions of monetary policy is to manipulate the value of our currency. And when you have debt levels, like Australia now does, it is critically important to maintain the value of the currency.
Everyone bangs on about the inflation rate and mortgage repayments and not a single person has stopped to think beyond that.
And everyone is hopping on board, bagging out Phillip Lowe and the RBA and no one seems to have any idea what the RBA's jobs are.
In short no it is not time for Philip Lowe to be fired.
Lol at "legal action". It arguably needs to be higher to combat inflation
Government deficit spending is for the most part responsible for inflation, government is the biggest recipient of newly created currency, (debt) therefore government needs to reign its spending and present a balanced budget, but this will never happen.
I think part of the problem is that he didn't come out swinging and calling out the media for misrepresenting him. Lowe was either happy for the media to make that spin or he and his team are genuinely that out of touch with what the public are exposed to. Either case was a fuck up on his behalf.