RBA Apology Not Good Enough

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English - December 01, 2022 11:31 - 2 minutes - 2.64 MB
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The Governor of the Reserve Bank Philip Lowe has apologised to the nation.

In particular, he has apologised to all those Australians who believed his forecasts about interest rates and went out and borrowed to buy homes and investment properties, in the expectation that mortgage rates would not be rising in the near future.

As apologies go, this is a particularly empty one.