Rent racket confronts RBA

Ian Rogers

Even more timely, reliable and granular data on rents has made the to do list of the Reserve Bank following the hearing with the House Economics Committee. 
 
The impact of interest rate increases on rents is a thundering topic in Australian economic debates. 
 
Paired with a general housing shortage, a scandalous lack of affordable housing and the upsurge in immigration, rents can only be a fierce topic for years to come.
 
Even more pressing is real time insights on the mortgages fall over that is rapidly building.
 
What else could you be doing?   Nobody asked that. 
 
Maintaining full employment - the thrilling, let’s take it seriously RBA thing of recent years - abandoned. 
 
Unbelievable and unacceptable. 
 
You know, Philip Lowe and the bank had a good week last week. 
 
The PR know it alls are taking him down, but work with what you have.  Lowe knows Canberra and reminded MPs he was a tribune of the pandemic response. 
 
Australia is lucky to have Philip Lowe.  
 
Unequivocally, the best RBA governor in the 35 years I’ve been scrutineering the industry.