New Reserve Bank of Australia deputy governor Andrew Hauser can still hear the panicked voices of British financial market participants on the telephone in October 2022, hours after the then-prime minister Liz Truss released her fateful mini-budget.
As the Bank of England’s executive director for markets at the time, Hauser witnessed the British pound crash, UK government borrowing costs soar, and pension funds head to the verge of insolvency.
John KehoeEconomics editorJohn 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
