Benchmark
Australia’s Central Bank Chief Proves He’s Chatty, Not Nutty
- Lowe's style is part of an evolution in transparency
- Interest rates have been on hold for ten straight months
Philip Lowe, governor of the Reserve Bank of Australia.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
When Philip Lowe, in his first statement as Reserve Bank of Australia Governor, said the bank wasn’t full of “inflation nutters,” he added some rare color to the often dry world of central bank speak.
Nine months into his tenure, Lowe has continued to show he’s a good talker – in terms of both quality and quantity. He’s given nine public speeches, compared with predecessor Glenn Stevens’ four in the same period, and added up to 200 more words to the bank’s monthly policy statements that can sometimes move the currency with the insertion of just a few letters.