AI version of Reserve Bank of Australia Governor Philip Lowe decodes latest interest rate decision

The Treasurer says Aussies with a mortgage will need a hand to understand this 12th rate rise by the RBA. Enter The Daily Telegraph’s plain-speaking Philip Lowe-bot.

Meet Philip Lowe-bot, created by The Daily Telegraph after Jim Chalmers said people with home loans will “need help” to understand the latest decision to raise interest rates.

Following the 12th hike in 13 months, the Treasurer urged the RBA to shed more light on its unprecedented run of hikes.

“It’s for the Reserve Bank and its board in the usual way to explain and defend the decisions that it takes independently,” Mr Chalmers said, “but I think out there, in the community, people who are under pressure, will find this decision hard to cop and they will need help understanding it.”

Enter the Lowe-bot, a plain-speaking AI version of the RBA Governor.

The Lowe-bot reveals the thinking behind the RBA’s official statement on raising the cash rate by 0.25 per cent to 4.1 per cent.

Mr Lowe is facing calls to further explain the latest rate rise. Picture: NCA NewsWire

Produced without any input from or endorsement by the RBA and the man himself, the Lowe-bot provides not only the enlightenment Mr Chalmers called for, but also a little light relief.

For example, in his official statement, Mr Lowe said: “This further increase in interest rates is to provide greater confidence that inflation will return to target within a reasonable time frame.”

But the Lowe-bot’s take is: “What I really meant was this further increase in interest rates provides greater confidence that you are screwed.

“If we don’t go hard, my golf handicap at Bonnie Doon is going to come down more quickly than inflation.”

The Lowe-bot was made using the wares of d-id.com, which allows users to create talking avatars. The script it speaks was written by The Daily Telegraph’s John Rolfe.

Originally published as AI version of Reserve Bank of Australia Governor Philip Lowe decodes latest interest rate decision