RBA’s Lowe says fiscal policy must do more in the future

philip-lowe
Philip Lowe

Fiscal policy will have to play a more significant role in supporting the Australian economy as it emerges from crisis mode, according to the nation’s central bank governor.

In testimony before the Senate Select Committee at the end of May, Philip Lowe was asked whether there was a limit to what can be achieved with monetary policy during a crisis.

Lowe said fiscal policy would have to “play a more significant role” than it has done in the past. “For the last 20 years, monetary policy has been

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