Many people took out mortgages based on the forward guidance.
"I'm sorry that people listened to what we've said and acted on that, and now find themselves in a position they don't want to be in," Mr Lowe told a Senate committee on Monday. "If we had known Omicron wasn't going to be like Delta, we would have considered a different path," he said.in the order of 6 to 7 per cent would make its job of taming inflation harder, he dismissed accusations he did not want to see real wage growth for workers.
Source: Loan Digest (loandigest.net)
Should be sacked immediately without pay, he has caused a lot of heart ache to lots of people ! An apology is NOT enough !, SACK HIM !
Anyone that believed interest rates wouldn’t rise & didn’t plan it into their budget is at fault too. In the last 2 years all I read was that it was going up, now, not in 2024.
FFS!
He's keeping his job he's not doing it.The RBI should have stepped in with a 5% hke 20 years ago. High house prices make countries unattractive destinations for holidays, migration and study. 3 sectors we are highly dependent upon for income. The RBI should be disbanded.
take a huge loan and expect it to stay low rates is fault of own if cant afford pay back.
Translation: Lol I lied, soz.
At least he has apologised. Unlike some. People are going to reassess their lives and may decide to downsize and retire.
This self serving servile liberal and big business puppet has to go.
Yeah “sorry” that does not mean anything. It’s all cheap lip service. He needs to go. Unacceptable
I love how he just wants to fix everything with “I’m sorry” how about you piss off Philip Low auspol
'Too bad that you trusted the RBA'Says the bloke whose salary is close to a million dollars a year.
That's because it's not forecasted. It's planned this time, so called upper management banking are freaking out because social coercion for unsustainable investments like climate and covid have been used to shift vast amounts of wealth.
He did not apologise. He said he's sorry WE listened to him. So, it's our fault we listened and acted, not his fault for saying the wrong thing or not following through on what he said.
How Lowe can he go
In 2018 I had said that interest rates were going to start going up from 2020
They never were going to. Look who is in Power communist Labor. Muppets trying to keep up with the Jone’s with $800,000 mortgages they could never afford
Maybe Phil Lowe could cover everybody's increased insurance premiums until 2024. It seems to be the only decent thing to do.
Somebody pay that guy a million dollars a year
LoweMustGo Lowe 2020: “We need wages growth the lift inflation!” Lowe 2002: “Fuck that shit. You believed me 🤣🤣🤣🤣” And he lost the RBAInfo ~$50bio in the process. That’s taxpayer money he’s pissed away into helping make houses less affordable.
Shame!
What’s the point of an apology? Why not we actually start telling people the truth that Reserve Banks can not predict markets and printing money was always going to lead to inflation?
Forget what he said. What he DID was lend out $500bio 0.1% till Apr24 to deliberately ignite the housing market and get people to borrow and now those borrowers are facing a rate reset of +4% on house values 20% lower…and he lost the RBAInfo $50bio in the process! (10x HIH!)
Resign
No harm done to anyone important
Oops! Never mind
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