‘Embarrassed’: Reserve Bank continuing to get their forecasting ‘wrong’

Описание к видео ‘Embarrassed’: Reserve Bank continuing to get their forecasting ‘wrong’

Former Labor senator Stephen Conroy says the Reserve Bank is going to be “once again embarrassed” by the actual statistics coming out of the “real economy”.

“As opposed to the modelling they’ve been using for the last few years,” Mr Conroy told Sky News Australia.

“They continue to get their forecasting wrong, they continue to get their assumptions they put into their models wrong, and it’s continuing to give them poor advice about how they should respond to the real economy.

“The economy is close to tanking caused by the Reserve Bank’s interest rate position, and the Reserve Bank should be lowering their interest rates.

“They are just wrong, and they won’t admit it.”

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