Philip Lowe should resign as Governor of the Reserve Bank for misleading Australians about interest rate rises, the Greens say.

“Dr Lowe induced hundreds of thousands of Australians into taking out massive mortgages by effectively saying that interest rates would not rise until 2024,” Greens Treasury and Economic Justice spokesperson Senator Nick McKim said.

“Having failed to keep that commitment, he should now resign.” 

“The preconditions that Philip Lowe set for increasing rates have not been met.”