Philip Lowe ‘made the mistake’ of cutting interest rates ‘too low in the first place’
over 2 years in news
Business columnist Terry McCrann says he “certainly wouldn’t criticise” RBA Governor Philip Lowe for recent interest rate rises.
“I think they were fundamentally necessary, partly because he made the mistake of cutting interest rates too low in the first place,” he told Sky News host Rita Panahi.
“We had this extraordinary period through COVID of basically free money, it was like, the banks were behaving like carnival shysters”.
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