Cometh the hour, cometh the person (or lady). There is no doubt the COVID-19 disaster has introduced the most effective out of our coverage leaders, together with the Reserve Financial institution of Australia’s governor and deputy governor, Phil Lowe and Man Debelle, and the nation’s good banking regulator, Wayne Byres.
A step behind them within the shadows has been Treasury’s no-less-impressive secretary, Steven Kennedy, who is maybe enjoying probably the most vital half by way of one of many world’s strongest fiscal stimulus applications (as a share of GDP).
Australians have been protected by this Praetorian Guard of excellent public servants in the course of the pandemic. I’m pleased with them, and you ought to be too. As hammy as it would sound, it has actually been a Staff Australia effort with politicians like Prime Minister Scott Morrison and Treasurer Josh Frydenberg rising to the problem, as have main bankers like CBA’s Matt Comyn.
It reminds one of many unconquerable Aussie spirit and what it means to be a member of our uniquely inventive, resilient and multicultural tribe. A tribe that refuses to simply accept defeat, and at all times finds a novel technique to prevail over adversity.
Throughout the week Lowe explained how the RBA was going to adapt its approach to unprecedented situations. Martin Place has three targets: value stability; full employment; and maximising the financial prosperity of the Australian folks.
Learn Christopher Joye’s full column here.