With a frisson of excitement and expectations the attendance of the Governor of the Reserve Bank, Philip Lowe at a first-for-him addressing the National Press Club of Australia in Sydney brought the big players from the journalists, writers and commentators to a stylish venue on a side street in Pyrmont with a view to die for.
No time for gazing at the view though as there was work to do and questions to be asked but that feeling that it might be so much easier to hand over your little stash of cash to the esteemed ‘guvnor’ and ask him to wave his magic wand and come back with more.
Dream on is the answer to that but Philip Lowe was a calm and measured speaker.
Not too positive about the ups, anymore than the downs and very circumspect about the other tsunami to hit the money market with the release of the Banking Royal Commission final report.
Trust in our institutions is paramount, that it has been years of reprehensible behaviour is beyond our comprehension and it would seem that a few more Philip Lowes are what the banking system needs.
