Why was RBA Govenor Phillip Lowe “sacked”? | Property Insiders

Philip Lowe was effectively sacked as Reserve Bank governor and Australia’s next Reserve Bank governor, Michele Bullock will take office in September at a time when much of the bank’s work in fighting inflation will be done and its focus will be on changing the way it operates.

Both Treasurer Jim Chalmers and Prime Minister Anthony Albanese say she is the right person to implement recommendations of the independent review of the bank intended to make it less insular and more open to outside perspectives.

Why was Philip Lowe passed over and what does this mean for interest rates and our property markets?

That's what I want to ask Australia’s leading housing economist Dr. Andrew Wilson, chief economist of My Housing Market in this week’s Property Insiders chat.

02:33 - Why was Phillip Lowe “sacked?”
12:06 - House Building Costs
14:48 - Our capital city housing markets are fragmented
23:09 - Auction clearance results July 15th – mixed but positive auction results as markets return from Winter Holidays

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