Treasurer distances himself from his former boss’ Reserve Bank attack

By Michelle Grattan, Professorial Fellow, University of Canberra

Treasurer Jim Chalmers has distanced himself from the strident attack his one-time boss Wayne Swan launched on the Reserve Bank, which the former treasurer accused of “putting economic dogma over rational decision-making”.

Swan, who is national president of the Labor Party and was treasurer in the Rudd and Gillard governments, said on Friday the Reserve Bank’s stance was “counterproductive and it’s not good policy”.

“If you look at markets, they’re all forecasting rate drops,” he said. “They’re going down around the world.”

The Reserve Bank continues to reiterate…

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