RBA foghorn: Lowe bullying Recessionberg, not other way around

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Interesting from RBA foghorn Terry Mccrann today:

Any suggestion that Reserve Bank governor Philip Lowe compromised his or the RBA’s independence with his ‘meet and quote’ with Treasurer Josh Frydenberg last week is just silly and quite simply doesn’t square with the facts.

Very obviously, Lowe hasn’t needed to be bullied by a politician into cutting rates — he and his board have already done so, twice.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.