an easy scapegoat for record interest rate rises
- Written by Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University
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Reserve Bank Governor Philip Lowe is getting terrible press, most of it undeserved.
“Lowe Blow” and “Take a Hike[1]” were two of the headlines on the front page of one of our newspapers. “We’ve had our Phil[2]” was on the front page of another.
His critics – the ones complaining about continual increases in interest rates – seemed happy enough when he was keeping them low.