Channel 9 has just reported that it has received “credible information” that Glenn Stevens had recommended a rate rise to 5% last Tuesday but his advice was “strongly rejected” by the Board.
The story went on to say that:
Subsequently, Nine news learnt Stevens made no such recommendation to the Board. The last time Stevens recommended a rate rise was last November, when rates were increased.
But there is disquiet in the Reserve Bank about a deliberate attempt to undermine the Board and the Governor.
Whether the release of false information is politically inspired or market driven by disgruntled banks and investors is not known. But what is known is that the Reserve Bank board has been through significant change in the past few months.
A strange story.