Philip Lowe welcomes RBA review but says description of board ‘far from the reality’

Reserve Bank governor says board challenges him and does not ‘sit there meekly’ but calls overall report ‘kind of excellent’

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The Reserve Bank governor, Philip Lowe, has rejected comments by the review panel about the workings of his board, saying the description provided in the final report “didn’t really resonate with me”.

While describing the overall review’s finding as “kind of excellent”, Lowe told a media conference on Thursday that the panel had not sat in the boardroom, and their description of the manner of the board discussions about interest rates was inaccurate.

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