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Reserve Bank boss and entire staff ordered to resign after ‘misleading’ public over interest rates

A top economist has demanded Philip Lowe and his entire staff to resign over false promises interest rates would remain low, when the Reserve Bank is about to hike the cash rate for the fourth time.

Warren Hogan, managing director of EQ Economics and chief economic adviser to Judo Bank, accused the Reserve Bank of Australia Governor of misleading Australians by saying interest rates would be kept low. 

Mr Hogan said the Reserve Bank had made some ‘pretty bad errors’ in the last 18 months and would make matters worse by hiking interest rates once again. 

‘They threw the kitchen sink at it and they lost their risk management skills,’ the economist told the Daily Telegraph. 

‘It’s unforgivable. I think they should resign – the whole board.’ 

A top economist has ordered the…

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