Despite promising there wouldn’t be a rise until 2024, Australia’s most influential banker was savagely questioned whether he would quit for hiking interest rates five times.
Hugh Riminton, the national affairs editor for Network Ten, nervously asked Reserve Bank of Australia Governor Philip Lowe on Thursday if he would resign, pointing out that he was despised by both hard-line Greens right-wing Nationals backbencher Matt Canavan.
You’ve managed to get the Queensland conservative Matt Canavan on a unity ticket with the Greens, which is impossible, Riminton remarked.
“This week, both have demanded that you be fired.
What do you tell those who believe that your resignation would be beneficial?
Dr. Lowe refused a request to resign.
He assured the group at the Anika Foundation lunch that he had no intentions to step down.
Strangely, Dr. Lowe said at the meeting that he had received applause from people for raising interest rates, even though they had increased this year at the quickest rate since 1994.