The RBA held rates at 4.1 per cent for a third consecutive month and is not expected to lift them any further this year as the economy continues to slow.
Outgoing RBA governor Philip Lowe will on Tuesday helm his last meeting of the board,which is widely expected to keep the official cash rate at 4.1 per cent.
RBA governor Philip Lowe chairs his last board meeting next week. New inflation figures suggest he won’t be recommending a further interest rate rise.
In November,Phil Lowe and friends were sipping $68 bottles of Chardonnay after raising interest rates. By December,the RBA was sourcing Christmas party decorations in Kmart.
In his final appearance before parliament as Reserve Bank governor,Philip Lowe voiced his opposition towards rent freezes or caps. He may have a point.
Our politicians and their economic advisers need to find a better way to skin the cat.
In his last appearance before the House of Representatives’ economics committee,the outgoing RBA governor also admitted he had made mistakes during the COVID-19 pandemic,that had contributed to today’s inflation pressures.
In his final parliamentary appearance,Reserve Bank governor Philip Lowe ended where he started – bemoaning the high cost of land in Australia.
Disruptions to the supply side of the economy won’t be going away – and that’s a problem.
Every six months,the RBA governor is quizzed by federal MPs. Philip Lowe faces his last federal grilling on Friday.
Home buyers,renters and businesses could be spared any further financial pain after the RBA again left the cash rate at 4.1 per cent while signalling the economy is on track for a soft landing.