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The 7 year itch

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Treasurer Jim Chalmers keeps refusing to endorse another term for Reserve Bank Govenor Philip Lowe, whose 7 year term is up this year.

He says he will make a decision in June.  This will be after the Inquiry into the RBA, so perhaps ammunition may come from that direction.

However this may unsettle the markets as it could signal a move away from the traditional independence given to the Reserve Bank, which in some ways works in the Government’s favour if the economy takes a dive.

Image: Image: Shutterstock – EyeofPaul

Produced By: Roderick Chambers

Featured In Story: Tim Harcourt Industry Professor and Chief Economist at the Institute for Public Policy and Governance the University of Technology Sydney

First aired on The Wire, Tuesday 14 February 2023

DATE POSTED
Tuesday 14th of February, 2023
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