HALISTER1: RBA’s Lowe Is An Inflation Targeter, Much Like Stevens: NAB

RBA’s Lowe Is An Inflation Targeter, Much Like Stevens: NAB

(Bloomberg) -- Philip Lowe is seen as the best internal RBA candidate, according to Alan Oster, chief economist at National Australia Bank.
  • Lowe is very much the same ilk as man he is replacing, Governor Stevens, in that he is an inflation targeter, Oster says in a phone interview
  • “He will do what needs to be done to bring balance to the economy,” he adds
  • “Philip is very competent and talented, one who won’t be swayed by politics on either side,” Oster says
  • AUD/USD up 0.5% to 0.7510; reaches 0.7514 session high after news of Lowe’s appointment
  • NOTE: Lowe to replace Stevens as RBA governor from Sept. 18
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
40005Z AU (Reserve Bank of Australia)

People
Alan Oster (National Australia Bank Ltd)
Philip Lowe (Reserve Bank of Australia)

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