Image source: Innate Wealth
As befitting the man who is the voice of Australia’s Reserve Bank, outgoing Governor Glenn Stevens is, as a rule, a pretty conservative kind of guy.
Except when he’s not.
Sometimes, he’s the straight-talking, dry-as-a-dessert comedian that delighted and confused journalists all over the country in equal measure. And that’s when we liked him best. So in honour of the impending end of his ten year reign as Governor this September, we’ve collected 8 of the all-time best quotes from Glenn Stevens:
- In the wake of the Global Financial Crisis, when he took this stab right at the heart of us all: “What we’ve learned is something that we know or should have known all along, which is that market economies are characterised by cycles, that human behaviour is characterised by alternately greed and fear.”
- In 2015, about the media: “So it’s not surprising that markets wring their hands a little bit and so does the media. I mean, they’ve got to wring their hands about something and that’s the topic for this week.”
Love you too, Glenn.
- In that same interview, on regulations in the financial industry: “But, in the end, it’s up to those in the industry to adopt the behaviour that they would be prepared to explain to their mother.”
Enough with the guilt trip already.
- In 2010, on Sunrise, about himself: “I’m Sydney’s most boring person, really…”
Well, you said it, not us…
- In July 2013, when he announced the RBA board had “…deliberated for a very long time” before keeping the official cash rate steady…
… and subsequently caused the Aussie dollar to take a nosedive. In hindsight, this was a move of accidental brilliance as the high Aussie dollar was doing significant damage to the economy at the time.
- And then, later that same month: “This is the eighth year we’ve been doing these lunches and this is the largest audience we’ve had, so I figure you’re here for the jokes really. Note… that was humour.”
Doesn’t it suck when you have to explain your own jokes?
- In November 2015 on the prospect of an interest rate cut: “I’m more than content to lower it if that actually helps but is that the best thing to do at any particular time? We’ve got Christmas. We should just chill out, come back and see what the data says.”
Kick back, have a cold one. Economy-schonomy, what’s the prospect of trifle at Christmas lunch?
- February this year on volatile global share markets: “I think what we’re seeing in global markets at present is markets are dropping their bundle.”
Couldn’t have put it better myself, Glenn.
By all accounts, Dr Philip Lowe, who will be replacing Stevens, has all the right credentials to step into his shoes. But what the people really want to know is, does he have the witty one-liners?