As she reads the economic commentators, Reserve Bank Governor Michele Bullock might, in moments of doubt, wonder whether she’s making a similar misjudgement to her predecessor Philip Lowe.
Lowe ended up discredited because of some poor calls. He had signalled the bank would hold rates down for longer than turned out to be the case.
Presently, a big debate is underway about whether Bullock and the bank have got it wrong in their stand that rates shouldn’t be cut “in the near term”.
