/ 08 September 2023

Farewell Phil

Australian Reserve Bank Governor Philip Lowe during press conference following the RBA’s July board meeting, Sydney,  Tuesday, July 6, 2021 The Reserve Bank has left the cash rate unchanged at 0.1 per cent and does not expect to raise it before 2024. (AAP Image/Pool, James Brickwood) NO ARCHIVING
Australian Reserve Bank Governor Philip Lowe during press conference following the RBA’s July board meeting, Sydney, Tuesday, July 6, 2021 The Reserve Bank has left the cash rate unchanged at 0.1 per cent and does not expect to raise it before 2024. (AAP Image/Pool, James Brickwood) NO ARCHIVING

Outgoing Reserve Bank boss Philip Lowe has marked the end of his 43-year career by reflecting on the day he nearly died. Governor Lowe found himself in intensive care with a blood clot in 2016 – just hours after being appointed to the top job. But he promised he’s finished the gig “reasonably fit and healthy” as he handed over a symbolic “half-full” mug to his successor Michele Bullock. Lowe had quite a few nuggets in his last speech… He called for less “vitriol and clickbait” in public debate; he reckons the government provided “too much” support during the pandemic; and wants our pollies to do more to help the Reserve Bank tackle inflation. Lowe also reflected on his “term-defining” remark that interest rates wouldn’t rise until 2024, saying “hindsight is a wonderful thing”. He officially turns on the OOO message on 17 September. 

Know someone who'd be interested in this story? Click to share...

The Squiz Today

Your shortcut to being informed, we've got your news needs covered.

Get the Squiz Today newsletter

Quick, agenda-free news that doesn't take itself too seriously. Get on it.