ContextFarewell speech at the Anika Foundation lunch in Sydney, at the end of the governor's term; the Reserve Bank of Australia pursues low inflation and full employment and is changing leadership.
Why it mattersIn his farewell, Lowe reflects on how public debate distorted his words.
Problems raised
Public debate often distorts what the RBA governor said.
Inflation has been too high.
Housing and rental pressures weigh on households.
Solutions proposed
Communicate clearly and correct misunderstandings.
Keep inflation returning to target.
Support mental health initiatives like the Anika Foundation.
ContextOpening statement by Philip Lowe, Governor of the Reserve Bank of Australia, to the House of Representatives Standing Committee on Economics, Canberra, 11 August 2023.
Why it mattersLowe tells lawmakers that services inflation may stay high.
ContextAddress by Philip Lowe, Governor of the Reserve Bank of Australia, at the Economic Society of Australia (Qld) Business Lunch, Brisbane, 12 July 2023.
Why it mattersLowe explains how the bank will implement the review's recommendations.
Problems raised
High inflation must be temporary.
Supply disruptions and commodity prices affect inflation.
ContextRemarks at the Reserve Bank Board dinner in Perth; the Reserve Bank of Australia pursues low inflation and full employment and meets local business leaders.
Why it mattersLowe keeps further hikes possible as inflation stays too high.
ContextMedia briefing in Sydney on the independent review of the Reserve Bank of Australia; the central bank pursues low inflation and full employment and is reforming its governance.
Why it mattersLowe welcomes the independent review and plans its implementation.
Problems raised
The RBA faces a more complex environment.
Its governance and framework needed review.
Implementation of reforms will take effort.
Solutions proposed
Welcome the Review's conclusions.
Develop an implementation plan with a dedicated team.
ContextOpening statement by Philip Lowe, Governor of the Reserve Bank of Australia, to the House of Representatives Standing Committee on Economics, Canberra, 17 February 2023.
Why it mattersLowe tells lawmakers that further tightening is likely.
ContextKeynote at the Australian Payments Network Summit 2022 in Sydney; the Reserve Bank of Australia oversees payments and wants an efficient, competitive and safe system.
Why it mattersLowe proposes a licensing regime for payment providers.
Problems raised
Payments are changing rapidly.
Mobile wallets need regulation.
Payment service providers lack a licensing regime.
ContextAddress by Philip Lowe, Governor of the Reserve Bank of Australia, at the Committee for Economic Development of Australia Annual Dinner, Melbourne, 22 November 2022.
Why it mattersLowe explains how supply shocks complicate monetary policy.
ContextRemarks at the Reserve Bank Board dinner in Hobart; the Reserve Bank of Australia pursues low inflation and full employment and meets local business leaders.
ContextOpening statement by Philip Lowe, Governor of the Reserve Bank of Australia, to the House of Representatives Standing Committee on Economics, Canberra, 16 September 2022.
Why it mattersLowe tells lawmakers the bank will do what is necessary on inflation.
ContextSpeech to the American Chamber of Commerce in Australia in Sydney; the Reserve Bank of Australia pursues low inflation and full employment and has started raising rates.
Why it mattersLowe draws lessons from the 1970s as rates rise.
ContextStatement in Sydney explaining the day's monetary policy decision; the Reserve Bank of Australia pursues low inflation and full employment and has just raised rates.
Why it mattersLowe announces the first tightening in over a decade, ending emergency-level borrowing costs.
ContextSpeech at the Australian Financial Review Business Summit in Sydney; the Reserve Bank of Australia pursues low inflation and full employment as prices rise.
Why it mattersLowe remains patient on rate rises despite the war.
ContextOpening statement by Philip Lowe, Governor of the Reserve Bank of Australia, to the House of Representatives Standing Committee on Economics, Sydney, 11 February 2022.
Why it mattersLowe remains patient as inflation rises globally.
