‘I’m sorry if people listened to what we’d said’: Lowe’s sorry excuse for an apology

In terms of apologies, it was of the “I’m sorry you were offended by what I said” variety.

“I’m sorry that people listened to what we’d said and acted on that, and now find themselves in a position they don’t want to be in. At the time, we thought it was the right thing to do.” This was the form of words used by Lowe in a statement following the RBA board’s October 2021 meeting, at which the“[We] will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. The central scenario for the economy is that this condition will not be met before 2024. Meeting this condition will require the labour market to be tight enough to generate wages growth that is materially higher than it is currently,” he said.

A jobless rate of 3.4 per cent is a tremendous policy success for a central bank whose charter includes a commitment to full employment.

swrighteconomy Offended!More like misled!

swrighteconomy Straight from the ScottMorrisonMP textbook 'How to Apologise Without Actually Apologising Whilst Diverting Blame to the Offended.'

swrighteconomy Ffs. Clowns who took out massive mortgages beyond their capacity thinking rates were never going back to normal we’re always gonna lose their homes. The RBA is just doing it’s job… and all the heavy lifting as the govt has abandoned the field on inflation and interest rates.

swrighteconomy Clearly showed his incompetence. He should have known that there is an inflationary trend evolving and at least should have asked for caution. Same his recent remark about that higher wages were inflationary. No understanding of how the economy really works. Utterly incompetent.

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