Lowe Stamps Asset-Bubble Policy on RBA After 25 Years in Waiting

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  • New governor presses signature issue at parliamentary hearing
  • Lowe gives three hours of testimony in his first week on job

For a quarter-century, Philip Lowe and a small band of like-minded peers pressed the need to manage credit growth and asset prices, sometimes to incredulous colleagues. Now, as Reserve Bank of Australia’s new governor, his theory has more sway.

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