Incoming Reserve Bank chief Philip Lowe has appealed to the Turnbull government to help him out with economic management by borrowing big for infrastructure, saying there’s only so much that further cuts in interest rates can do.
In what amounted to a plea to the Prime Minister and Treasurer to take advantage of near-record low interest rates and borrow now that the Reserve Bank’s cash rate was close to zero at 1.5 per cent, he told a parliamentary hearing that monetary policy was “not working as effectively as it might have”.
New governor steps right up
If the pollies can’t find plenty to ask th…
Read the full article at: http://www.smh.com.au/business/the-economy/reserve-bank-governor-philip-lowe-urges-government-to-invest-in-infrastructure-20160922-grm9n5.html
