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> The reserve bank governor is deeply unpopular in the broader public because of 2021 comments he made about there being no interest rate increases needed until
by theteapot 4y ago
> The reserve bank governor is deeply unpopular in the broader public because of 2021 comments he made about there being no interest rate increases needed until 2024 [1].
He never said that. Actual primary source -- https://archive.md/uE4g3 https://archive.md/uE4g3:
> ... This is the basis for our assessment that the cash rate is very likely to remain at its current level until at least 2024.
That statement is preceded by quite a long analysis, and discussion. His assessment was wrong obviously. He deserves flak for not being wise enough to not make such a strong assertion. But ... he never said unequivocally "no increases until 2024". It's quite frustrating seeing the media bludgeon those words into his mouth.
- Khaine 4y agoThat's all our media do. Journalism is dead. Also, like all central banks, he was trying to jawbone to get the results he wants without having to induce the pain of the action required. Even this week, there was talk of 3 more interest rate rises. He is hoping this will cut spending, reduce demand, and drive down inflation so that the interest rate rises aren't required.