BDO Australia welcomes the incoming Governor of the Reserve Bank of Australia

20 September 2016

BDO Australia welcomes the incoming Governor of the Reserve Bank of Australia, Philip Lowe, who started in his new role this week.

BDO National Tax Director, Lance Cunningham said he hoped the Governor would continue to steer the RBA along the sensible approach taken by former Governor Glenn Stevens, particularly in relation to setting the cash rate.

“The RBA doesn’t have a lot more room to give when it comes to interest rates and the Government can’t keep looking to them to provide further economic stimulus through interest rate cuts.”

“What’s needed is a targeted approach by the Government – looking at areas and sectors which need short to medium term stimulus to remain stable and productive.”