Category: philip lowe

First Woman to Lead Reserve Bank of Australia as Lowe Exit Locked In

July 13, 2023
AustraliaBusiness & Marketseconomic policiesphilip loweReserve Bank of AustraliaWorld
0 Comment

The Reserve Bank of Australia (RBA) will get its first woman leader as Philip Lowe’s seven-year tenure comes to an end. Mr. Lowe will be replaced by Michele Bullock, the current deputy governor of the central bank, when his term finishes on Sept. 18. Ms. Bullock has served as deputy governor since April last year…

Read More

Reserve Bank of Australia Pauses Interest Rate Hike in July

July 4, 2023
AustraliaBusiness & Marketseconomic policieseconomyinflationinterest ratesphilip lowerecessionReserve Bank of AustraliaWorld
0 Comment

Australians have narrowly avoided a new round of interest rate hikes after the Reserve Bank of Australia (RBA) decided to keep the official cash rate unchanged in July. In its latest board meeting, the RBA announced that it would maintain the current official cash rate of 4.1 percent throughout July. The central bank said the…

Read More

Australian Government to Reveal Reserve Bank Governor’s Position in July

June 22, 2023
AustraliaBusiness & MarketseconomyJim Chalmersphilip loweReserve Bank of AustraliaWorld
0 Comment

The Australian government will announce the position of the Reserve Bank governor within weeks, which may bring a fresh pair of eyes to the monetary authorities’ struggle against inflation. This comes as the incumbent governor Philip Lowe will finish his seven-year term in September. Despite helping the Australian economy navigate the COVID-19 pandemic, Lowe has…

Read More

Time to Face the Music: Sacrifices Need to Be Made During Hard Times

June 7, 2023
Australiaaustralia housing crisisBusiness & MarketsOpinionphilip loweRBAViewpointsWorld
0 Comment

Commentary Being a truly independent statutory officeholder requires integrity and grit. Be it the Director of Public Prosecutions (DPP), a judge or the Reserve Bank of Australia (RBA) governor, you have to take your official duty with utmost seriousness. With the privilege of high office comes the countervailing obligation of responsibility. The temptation to give…

Read More

Australia’s Official Cash Rate Rises to 4.1 Percent in June

June 6, 2023
AustraliaBusiness & Marketseconomic policieseconomyinterest rate hikesphilip loweReserve Bank of AustraliaWorld
0 Comment

Australian borrowers have been hit with another round of interest rate hikes after the Reserve Bank of Australia (RBA) raised the official cash rate by 0.25 percent to 4.1 percent, the highest level since April 2012. This comes after a 0.25 percent increase in May and a brief pause in April. In delivering the RBA’s…

Read More

Corporate Profits Aren’t Fueling Inflation: Australian Treasury

May 31, 2023
AustraliaAustralian Treasury DepartmentBusiness & Marketseconomyinflationphilip loweWorld
0 Comment

The Australian Treasury Department has refuted the idea that corporate profits are worsening inflation. However, it said the mining sector played a small role in consumer price growth. During a recent Senate estimates hearing, Treasury official Sarah Hunter said the department had analysed the impact of corporate profits on inflation. “And that’s where looking at…

Read More

Independent Review Outlines Key Points for Upcoming RBA Reform

April 20, 2023
AustraliaBusiness & MarketseconomyJim Chalmersphilip loweReserve Bank of AustraliaWorld
0 Comment

The Australian government has released an independent review of the Reserve Bank of Australia (RBA) that provides a framework for the central bank’s reform. The review (pdf) pointed out that the current RBA board’s composition and decision-making processes were not sufficient to allow the bank to make policy decisions, strategies and judgments effectively. It then made…

Read More

RBA Hints at A Pause to Interest Rate Hikes Amid Concerns About Recession

March 7, 2023
AustraliaBusiness & Marketseconomyinflationphilip lowerecessionReserve Bank of AustraliaWorld
0 Comment

The Reserve Bank of Australia (RBA) has announced a 10th consecutive interest rate hike, taking the official cash rate to the highest level in 11 years. However, there are signs that the current monetary tightening cycle may end soon as the risk of a recession emerges. On March 7, the RBA board decided to lift…

Read More

RBA Hints at Pause to Interest Rate Hikes Amid Concerns About Recession

March 7, 2023
AustraliaBusiness & Marketseconomyinflationphilip lowerecessionReserve Bank of AustraliaWorld
0 Comment

The Reserve Bank of Australia (RBA) has announced a 10th consecutive interest rate hike, taking the official cash rate to the highest level in 11 years. However, there are signs that the current monetary tightening cycle may end soon as the risk of a recession emerges. On March 7, the RBA board decided to lift…

Read More

Less Regulation, More Competition Needed to Deal With Inflation: Australia’s Reserve Bank Governor

February 17, 2023
AustraliaBusiness & MarketseconomyinflationInternationalphilip loweReserve Bank of AustraliaWorld
0 Comment

Reserve Bank Governor Philip Lowe was at pains to emphasise the need to relax business regulation and open up the economy as the way to deal with soaring inflation during a recent Senate Estimates hearing. “If there is greater competition, more investment, more freedom on the supply side of the economy, then the price pressures…

Read More