Michele Bullock becomes first woman to serve as RBA governor, replacing Philip Lowe
Question is will this change much in how the RBA handles interest rates?
Will they fully implement the changes recommended?
If inflation still does not come under control and interest rates go up will this renew skepticism about the RBA inflation policy ?
https://www.abc.net.au/news/2023-07-14/michele-bullock-replaces-philip-lowe-rba-governor/102601030Open linkView original on lemmy.letthewookiee.win
Given she's his deputy, I'd expect it's more a slight course change than a big change planned.
He's made mistakes, like all central bankers have. His were just more obvious due to his comments presented in the media. The underlying theory and plan will be the same.
I imagine she'll look at his fate and may be more inclined to be critical of government when they are not pulling their weight, to deflect some blame.
What most people are angry about is the pain. The pain is not the problem, it's how it's being distributed is the problem.
And sadly people don't understand that the RBA has no way to change how the pain is distributed. If that's what people are upset about, it's the government they should direct that at.
What's that, you want government to make it worse? Here, have some stage 3 tax cuts.
Govt can affect monetary policy?? No way !!
Exactly. The RBA can do exactly 1 thing to try and curb inflation - raise interest rates. It's literally their only move.
The government are the ones that need to be doing more to combat inflation. It shouldn't be up to the RBA to try and lower inflation.