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Philip Lowe is accompanied at today’s hearing by Guy Debelle, a deputy RBA governor. Debelle has just shown Lowe the growth number in the national accounts.
The governor is pleased. It’s very good, he says. (Lowe was hoping for more than 2% in today’s numbers. The growth number is 3.3%).
Jim Chalmers has responded:
Today’s headline number is cold comfort for millions of Australians looking for work, or more work. For many people what looks like a recovery on paper will still feel like a recession. #auspol
What really matters is not one quarterly GDP number on a page but how Australians are actually faring and whether they can provide for their loved ones. #auspol
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