The treasurer should appoint arguably the finest policy economist of his generation – someone with central banking skills without peer.
on the governorship of the RBA. Speculation is rife about what that choice might be, and little wonder. There has rarely been a more challenging time for the Bank or a more important choice to be made. Of those in the, former deputy governor Guy Debelle really stands out . Let me explain why and tell you what I know about him.
He completed his degree, published papers jointly authored with Fisher, and arrived back in Australia, a head full of ideas, but not a brass razoo to his name. Taking a job at the RBA he immediately made a mark, writing an influential paper in 1995 with then assistant governor Glenn Stevens. It was on central bank credibility and inflation targeting, and used a simple four equation model to set out the logic of a soft-edged 2 to 3 per cent target.
By all reports, he was the brains and the driving force behind the RBA’s response to the GFC in 2008, working day and night for months on end to, you know, save the country. He was central to the RBA’s response to COVID-19, setting up the term funding facility in an incredibly short space of time. As well as co-ordinating the myriad other complex and innovative responses .
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mark Bouris makes grim RBA prediction ahead of Tuesday’s rate announcementYellow Brick Road home loans chairman Mark Bouris has given a sobering prediction for Tuesday’s interest rate announcement by the Reserve Bank of Australia (RBA) and believes rates will rise again.
Read more »
Three reasons why interest rates are still too lowANALYSIS: There may be a pause in rates rises, but the RBA cannot fall too far behind the interest rate curve of other central banks.
Read more »
Government hopes surplus figure will cause Reserve Bank to ‘hold fire’ on interest ratesThe federal government will post a surplus bigger than the $4.2 billion predicted for last financial year 2022-23, in what it sees as a boon for its economic credentials and something it can politically bank all the way to the 2025 election. “Treasury figures out last week showed that in the 11 months to May 31, the surplus had come in at $19 billion,” Sky News Political Editor Andrew Clennell said. “Once the June figures are in, the surplus is likely hit as high as 20 billion, which would be a record. Mr Clennell said the government hopes the surplus figure will encourage the RBA to “hold fire” when it comes to its decision on interest rates next Tuesday.
Read more »