From perhaps Australia’s greatest ever economic hypocrite, via Domain today:
Former treasurer Peter Costello has blamed ultra-low interest rates for fuelling global political extremism and accused the Reserve Bank of focusing on global currency movements rather than the Australian economy when setting monetary policy.
Speaking at the Citi Australia and New Zealand Investment Conference 2019 on Wednesday, Mr Costello said that lower interest rates across the world had been good for “sophisticated people” who borrow to buy assets but negatively affected “poor people” who do not.
