Reserve Bank governor Michele Bullock’s bold call to defy the money markets and Treasurer Jim Chalmers by not immediately lowering the 3.85 per cent cash rate will go down in the history books in more ways than one.
Not only did Bullock take the rare step of thumbing her nose at almost every market economist and trader by holding rates steady.
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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
