The boss of the Reserve Bank of Australia has popped up on TV for the first time in 12 years, in yet another sign that extremely unusual times have arrived for Australia.
Following the RBA decision to raise the official interest rate by 0.5 percentage points last week, Philip Lowe granted a rare interview on 730 to exiting host Leigh Sales. This is his first time doing a prime-time interview and the first time a Reserve Bank governor has been on TV since 2010 when Glenn Stevens went on Sunrise to chat to David “Kochie” Koch.
When the RBA slashed rates in the wake of the global financial crisis there was no TV appearance. When it hiked them afterwards, again, no interview. In the pandemic, when the RBA cut rates close to zero and began an unprecedented campaign of quantitative easing? No TV interview.