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RBA Deputy Governor Andrew Hauser Denies Pressuring Board on Rates
RBA deputy governor Andrew Hauser denies pressuring board members on interest rate decisions
Key points
- Hauser said he was not trying to signal a rate rise a fortnight before an official meeting.
- Hauser also denied publicly pressuring other board members into tightening monetary policy.
- The Australian Financial Review reported that some of seven external board members felt the remarks had infringed on their independence.
Why it matters. The article reports private disquiet at the top of the Reserve Bank over public remarks that moved money markets, raising questions about the board's independence.
Reserve Bank of Australia deputy governor Andrew Hauser said he was not trying to signal a rate rise a fortnight before an official meeting. The Australian Financial Review reported on Thursday that some of the seven external members on the nine-person board felt his public remarks, which moved money markets, and a television appearance by assistant governor Sarah Hunter had infringed on their independence.
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RBA Deputy Governor Andrew Hauser Denies Pressuring Board on Rates
Reserve Bank of Australia deputy governor Andrew Hauser has rejected allegations that a public speech pressured his monetary policy colleagues. He said he was not trying to signal an interest rate rise a fortnight before an official board meeting. He also denied publicly pressing other board members to tighten policy. The Australian Financial Review reported private disquiet at the top of the central bank over the speech. The board subsequently lifted borrowing costs to an 18-year high.