‘Better to Do Too Much Than Not Enough’: RBA Governor Rationalises Interest Rate Hikes

The governor of the Reserve Bank of Australia (RBA) has apologised to Australians for higher interest rates as a result of the inflationary effects of COVID-19 stimulus but noted the package was a risk that was worth taking.
Speaking at a Senate Estimates hearing in Canberra on Nov. 28, RBA Governor Philip Lowe said he was sorry the financial institution had not been clearer about the potential risks.
“I’m certainly sorry if people listened to what we said and then acted on what we’d said and now regret what they had done,” Lowe said.
“Looking back, we would have chosen a different language. People didn’t hear the caveats. That’s a failure on our part: we didn’t communicate the caveats clearly enough….