The Greens understand that the Senate will today support our motion requiring Reserve Bank governor Dr Philip Lowe to appear at Senate Estimates.<\/p>\n\n\n\n
\u201cIndependence does not mean a lack of accountability,\u201d Greens Economic Justice Spokesperson Senator Nick McKim said.<\/p>\n\n\n\n
\u201cThere are serious questions for Dr Lowe.\u201d <\/p>\n\n\n\n
\u201cDr Lowe induced people into taking on massive amounts of debt by saying interest rates wouldn\u2019t go up until wages had increased substantially and this was unlikely to be until 2024.\u201d<\/p>\n\n\n\n
\u201cHe needs to explain why interest rates are being jacked up without the preconditions that he set being met.\u201d<\/p>\n\n\n\n
\u201cHe also needs to explain how increasing interest rates is going to conquer inflation that is being driven by supply shocks and corporate profiteering.\u201d<\/p>\n\n\n\n
\u201cThe consequences of five consecutive rate rises have been stark – renters, mortgage holders and small business owners are all being smashed trying to fix a problem they did not cause.\u201d<\/p>\n\n\n\n
\u201cIt\u2019s time for Dr Lowe to face the music.\u201d<\/p>\n\n\n\n
The Greens motion<\/a>, which requires the Economics Legislation Committee to invite Dr Lowe to appear at Senate Estimates on November 9, will be voted on this afternoon.<\/p>\n","protected":false},"excerpt":{"rendered":" The Greens understand that the Senate will today support our motion requiring Reserve Bank governor Dr Philip Lowe to appear at Senate Estimates. \u201cIndependence does not mean a lack of accountability,\u201d Greens Economic Justice Spokesperson Senator Nick McKim said. \u201cThere are serious questions for Dr Lowe.\u201d \u201cDr Lowe induced people into taking on massive amounts … Continue reading “Senate Estimates”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-18401","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/18401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=18401"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/18401\/revisions"}],"predecessor-version":[{"id":18402,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/18401\/revisions\/18402"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=18401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=18401"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=18401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}