Luke is joined by David LLewellyn Smith, Macrobusiness.com founding publisher & editor/ Chief Strategist at the MB Fund & MB Super, following the RBA Governor Philip Lowe being in the firing line over disastrous rate rises… but not everything is as it seems.

Mr Llewelly Smith writes, ‘the performance of Australian central banking has soured for more than a decade.

‘Before the Global Financial Crisis, forecasting and monetary policy seemed to run itself.  Inflation was largely quiescent, exports were driven by China, and households added debt like clockwork to drive consumption.’

‘But, since the GFC, this has all gone pear-shaped for the Reserve Bank of Australia.’
‘Post-GFC, the RBA embarked on an ill-fated tightening program to shift Australia to “mining-led growth” for decades to come’.

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