Economist Andrew Stone says he is “not convinced” the recommendations being implemented by the Reserve Bank are the right way to go.
“I can understand why the government would be dissatisfied with the performance of the Reserve Bank, and I think the performance of the Reserve Bank has been unsatisfactory for a number of years now,” Mr Stone told Sky News host Peta Credlin.
“It’s always a little bit worrying when politicians decide to start creating new boards to determine monetary policy, the risk is we’ll get a board stacked with political appointees designed to – smooth the way for the government. “Really the problem in recent years has not been a lack of expertise … it’s been a lack of courage … Phil Lowe wasn’t prepared to do it in recent years and that’s led to some pretty poor outcomes.”
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