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The New Daily

Business

Michael Pascoe

Michael Pascoe: The Pope’s a Catholic and forecasting is a mug’s game

Michael Pascoe RBA Philip Lowe Monetary Policy Inflation Reserve Bank

A governor can only do what a governor can do, writes Michael Pascoe of the embattled head of the RBA, Dr Philip Lowe. Photo: AAP/TND

I’m starting to feel sorry for the Reserve Bank governor, such is the extent of the pile-on since he apologised on Monday for loose lips sinking mortgage ships during the heat of the COVID war.

For a start, I’m not as sure as most of the commentariat seems to be that Philip Lowe’s infamous “the cash rate is very likely to remain at its current level until at least 2024” comment was the main factor in firing up borrowing and housing prices.

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