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RBA Governor gives "Game Changer" speech
I had expected that the events this week would be highlighted by the stunning 11.9% surge in the Westpac-Melbourne Institute Consumer Sentiment Index. That was not the case. RBA Governor Lowe delivered a speech on Thursday to a Banking Conference that was, quite simply, a game changer from the perspective of future policy. Over the years I have learnt that you should always play close attention when Phil Lowe speaks (even before he was Governor). There are always valuable insights into the economy and sometimes into policy. Predictably, his insights into the “uneven recession” were refreshingly revealing. From my ... (full story)