Phil Lowe’s future as RBA governor questioned by government MPs

United Kingdom News News

Phil Lowe’s future as RBA governor questioned by government MPs
United Kingdom Latest News,United Kingdom Headlines
  • 📰 theage
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 77%

After a ninth consecutive rate rise, Reserve Bank governor Philip Lowe’s job is under a cloud, with four Labor MPs questioning his grip on the role.

Four Labor MPs have questioned the future of Reserve Bank governor Philip Lowe following nine consecutive rate rises from the central bank, suggesting his seven-year term should not be extended.

“We can’t hide from reality and these factors I’m sure would be taken into account when considering a response to the review of the Reserve Bank and future leadership appointments.”Queensland Labor MP Graham Perrett said extending Lowe’s term was a matter for the treasurer and his team “but certainly, activist governors carry extra risks”.

“Nearly 50 per cent of NSW [residents] rent, 40 per cent in my electorate. And they’re making these decisions without understanding the impact on [renters],” he said. Assistant Treasurer Stephen Jones told Sky News on Wednesday that “we’re hoping that this, if not the last, it’s nearly the last of the interest rate increases”.on Wednesday morning, ducking questions on whether the governor’s term would be extended for three years as it had been for his two most recent predecessors.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

theage /  🏆 8. in AU

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Phil Lowe’s future as RBA governor questioned by government MPsPhil Lowe’s future as RBA governor questioned by government MPsFour Labor MPs have questioned the future of Reserve Bank governor Philip Lowe following nine consecutive rate rises from the central bank, suggesting his seven-year term should not be extended.
Read more »

ASX LIVE: Macquarie Group, Transurban to report; Reserve Bank of Australia interest rate call aheadASX LIVE: Macquarie Group, Transurban to report; Reserve Bank of Australia interest rate call aheadAustralian shares set for a muted open. US stocks extend losses. Transurban CEO to step down. RBA poised to lift rates by 0.25pc. Follow for updates.
Read more »

Live: Reserve Bank tipped to announce first interest rates rise of 2023Live: Reserve Bank tipped to announce first interest rates rise of 2023The Reserve Bank is widely expected to lift interest rates by another quarter of a percentage point, making it nine increases in a row. Follow live.
Read more »

Reserve Bank raises interest rates by a quarter of a percentage pointReserve Bank raises interest rates by a quarter of a percentage pointThe Reserve Bank raises interest rates for the ninth meeting in a row, taking the cash rate target to its highest level since September 2012.
Read more »

Reserve Bank’s ‘language’ in media statement was ‘stronger’ than anticipatedReserve Bank’s ‘language’ in media statement was ‘stronger’ than anticipatedKPMG Chief Economist Brendan Rynne says the Reserve Bank’s “language” in today’s media statement was “much stronger” than anticipated. “The language that was in today’s media statement was much, much stronger than what I thought it was going to be,” Mr Rynne told Sky News Commentator Steve Price. “Quite clearly the Reserve Bank was very concerned about the level of inflation that materialised in the last quarter of last year, running at nearly eight per cent. “It’s very much wanting to try to clamp that down and bring inflation back to its target band.”
Read more »

Reserve Bank takes ‘pragmatic’ approach to tame inflation and avoid recession in AustraliaSky News Business Editor Ross Greenwood says the Reserve Bank is fairly “pragmatic” in stating that they believe they can control inflation and prevent a recession in Australia. “There's also responsibility placed back on the government here that the government needs a budget that comes out and does not spend money,” Mr Greenwood told Sky News host Andrew Bolt. “That Jim Chalmers and the Finance Minister basically cut out and really navigate their way to a situation whereby they get to the point that you don't have the type of inflation, coming from government and the government spending.”
Read more »



Render Time: 2025-03-16 18:46:31