Economics
Australia Shouldn’t Worry About Huge Government Debt, RBA’s Lowe Says
- Lowe broke protocol, informed government of March policy plan
- Governor says health concerns must take priority over economy
Philip Lowe
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Australia shouldn’t be concerned about its escalating government debt in response to the coronavirus crisis because of the long record of responsible fiscal policy, Reserve Bank Governor Philip Lowe said.
“If ever there’s a time to borrow, now is it,” the RBA chief told the Australian Broadcasting Corp.’s Four Corners program in a report on the scramble to combat the economic fallout from the epidemic. “We shouldn’t be worried” about the debt, it cited Lowe as saying.