Less then a year ago Dr Lowe publicly announced interest rises wouldn't rise any earlier then 2024- this clearly would of influenced a number of peoples decisions to take out loans - This statement at the time might of seemed reasonable and lured some borrowers into a false sense of security.
https://www.afr.com/policy/economy/lowe-admits-embarrassing-…
My question is this incredibility irresponsible handling of Australias cash rate could have large impacts on a number of Australians.
Now i agree interest rates had to rise based on inflation but this comments about the cash rate are far more damaging then some people realise
I feel like there needs to be some accountability as Dr Lowe is paid $911,728 pa to be Governor of the RBA i personally think he should be shown the door or forced to walk.
I'd almost argue the lack of criticism on him right now is a bit of a joke his comments could turn out to be incredibility damaging for a number of borrowers.
Full disclosure: I have a home loan but im fixed for the rate rise doesnt affect me in anyway right now but im curious to know what people think
Update: looks like most people are 'alright' with it personally i'd like to see him replaced but i find it interesting people find it interesting as he is a very high paid 'public' servant that people dont expect better.
On the subject of Dr Lowe, I am keen on him for his ongoing objection to the suppression of wage growth.