(Image: AAP/Bianca De Marchi)

The governmental organisation in Australia that does the longest-term planning is now, apparently, the Reserve Bank (RBA).

On Wednesday, Australia’s chief central banker, RBA governor Philip Lowe, told the National Press Club that the economy was so far off track the bank would keep interest rate settings fixed at max stimulus for the next three years, and possibly longer.

It's now talking 2024 for the timing of its next move in interest rates. That's bloody miles away. It's planning further ahead than the International Olympic Committee, which used to have the next 12 years locked down but now doesn’t know what’s going to happen in July.