The Greens will demand that Labor retains a law that allows Reserve Bank of Australia governor Michele Bullock to tell banks how to lend money, arguing future monetary stimulus should be directed to green technology and renewable energy.
The Greens also reiterated their calls for the treasurer to retain a never-before-used power to override the RBA on interest rates, and urged him to cut borrowing costs immediately.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
