“RBA Governor Philip Lowe made a few quite sensational comments when he spoke at the European Central Bank’s forum in Portugal last week.
Sensational, because it shows the RBA under his stewardship is targeting higher than necessary unemployment as the tool for containing household debt and he has all but abandoned the RBA’s inflation target which has been in place for over 25 years.
Recent data shows Australia failing to make meaningful inroads into reducing unemployment, as Australian interest rates have remained well above those in the rest of the industrialised world.”
