Reserve Bank of Australia governor Philip Lowe has admitted the central bank’s pandemic guidance that interest rates would not rise until at least 2024 was an “embarrassing” error and it “should have done better”.
Dr Lowe said an internal RBA review of its so-called forward guidance during the pandemic would be conducted and findings made later this year.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
