RBA governor says sorry to homebuyers who listened to rates forecast

The central bank forecast throughout 2021 that inflation wouldn't rise quickly and interest rates would stay low until 2024.

"I'm certainly sorry if people listened to what we'd said and acted on what we'd said and now regret what they had done," he said.Lowe said the economic situation in 2020 and 2021 during the COVID-19 pandemic was "dire" which led the bank to do "everything" it could to help the country get through it.

Lowe said the RBA tipped inflation to stay low and therefore interest rates would also remain low, but the economy picked up faster than predicted.

Source: Loan Digest (loandigest.net)

He means he got it wrong

It was an apology that came with a 'but'. So not a real apology.

Yes he looked sincere smirking through the entire apology

I didn't believe the RBA when they made such ridiculous promise in the first place. No market savvy people believed this BS.

Sorry doesn’t cut it.

Collapse of the real estate market . Wake up Aussies it was by design.

Whilehe sips Crystal Wine..!

Resign now. Sick of all your giggling, laughing and total lack of empathy to people who can't make ends meet, have to sell their home or have lost hundreds of thousands of dollars in home values. Australia doesn't want your type.

$1m salary won’t feel how hard it is for average Australian, should resign

Honestly u can't blame this bloke, Australia's economy was shut down for 2yrs+ and the RBA deliberately held back interest rate rises because of the pandemic lol. and the government injecting 400b of new money into a struggling economy u think it wasn't going to affect anyone 🤣

All you banking criminals don't give a sh/t. You all need to be in jail

Sorry? I bet that makes the poor home owner feel so much fucking better as they prepare for mortgagee sales. That word means and does fuck all!!

I’m sure he doesn’t have a home loan to worry about

That will help 🤡🤡🤡🤮he also struggles on 1 million salary so be nice to him 😀😀😀😀😀

A simple sentence: He needs to resign

Should resign as has no clue as to whats going on

Interest rates were always going to go up, the only problem I have is that it was going to happen 3 or so years ago and they decided against it because people were in too much debt and they risked collapsing the economy. Now they follow like sheep and collapse the world economy.

Interest rates should have been lifted on 2021. And seriously it's a personal choice to get a home loan. If you can't afford a loan when interest rates go up then you should have never got a loan.

A bit flaming late mate. Resign.

lmao, he also cost a lot of oldies investment money who made longer term decisions on RBA advice. tbf though blind freddy could see it falling apart at the seams. we havent seen anything yet.

Why are banks lending to people who can’t withstand a couple of percentage points increase? Even now interest rates are still very low.

A few lives are ruined now from that advice..

Most stupidly took out fixed, amazing how people don't know how to use a home loan for their benefit.

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