WENDELL HUSSEY | Cadet | CONTACT
The Reserve Bank of Australia has today responded to a damning review which claims it needs to be shaken up to ensure it’s fit heading into the future.
Speaking from somewhere in the shithole CBD of Sydney, Governor Philip Lowe told The Advocate that he’s not really sure why it’s his fault that the nation is so povo right now.
“And remember, I speak on behalf of a board of nine okay, it’s not all my fault,” said the man on a million bucks a year.
“But I don’t really understand why it’s our fault that the government has mismanaged the economy and the everyone is so povo right right now.”
“Interest rates are a part of life, grow up,” said the man who promised he wouldn’t raise them for 3 years before raising them 10 times in the space of 2 years.
His comments come after a review was released this morning, making 54 recommendations about shaking up the Reserve Bank Of Australia.
The review recommends amongst other things that there needs to be less interest rate meetings, greater accountability for decisions and more financial experts on the board rather than businessmen and women.
The review says little about the fact that the RBA only has control over interest rates, and fails to recommend the government in charge of running the country actually do something about curbing inflation rather than just expecting the RBA to do it and blaming them when the situation doesn’t fix itself.
Jim Chalmers has promised to back the 51 recommendations in principal, which will likely have a similar effect to the report from the Royal Commission into the banking sector and result in fuck all changing for everyday Australians.
More to come.
