The private lunch between Barrenjoey and RBA governor Philip Lowe was instigated by the start-up investment bank amid questions over the outlook for inflation.
The lunch coincided with a rise in bond yields, and came just two days after the central bank raised interest rates for the ninth straight time and Dr Lowe surprised markets by revealing that there were at least two more rate increases to come.
Barrenjoey chief economist Jo Masters emailed Dr Lowe on November 23, suggesting a lunch or dinner with Barrenjoey senior staff and key clients in the new year. Meetings between central bankers and financial market participants and academic economists are not unusual, allowing the parties to exchange views on the economy and for the RBA to understand how the market is perceiving the central bank.
Ms Masters sent Dr Lowe a list of attendees the day before the lunch, which included chief executive Brian Benari, as well as the investment bank’s head of equities, Chris Williams; head of research, Craig Stafford; and Duncan Haig, who is Barrenjoey’s head of fixed income.
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