Farewell RBA Governor Glenn Stevens: 8 quotes we will remember you by

Farewell RBA Governor Glenn Stevens: 8 quotes we will remember you by

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.”

Ouch.

  • 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?

Farewell RBA Governor Glenn Stevens: 8 quotes we will remember you by was last modified: May 9, 2016 by Kelly Emmerton

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  1. Is he going? Good, let him go, go, go.

    RBA looks to be the enemy of the innocent general public. RBA is the love child of the banks. So institutions like MOZO are nowhere in between either.

    RBA really helped banks to earn profits on top of profits for the last so many years, while telling the public and the politicians and the listeners and the media what RBA knows about the economy????

    RBA gets worked up every time when there is an election to help political parties, that is the understanding of the public who pay their mortgages through the nose. RBA never ever helped the poor people. RBA said low rates cannot last forever. These people have got money for the rest of their life, so RBA is not worried.

    Every time RBA reduced the interest rates RBA could not control or get the banks to pass it to the customers. So where is the RBA standing? Some banks even increased their lending rates when RBA decreased 0.25%.

    They want to control and put the Aussie dollar down too.

    This is the only country that wants its money/dollar to go down.

    All the other countries want their money to revalue so that they can be higher in everything.

    Does United Kingdom put its pound down? No. Does the USA put the US dollar down? No. Does the Euro ever go down? No. Does the Swiss Franc go down? No. So then what is the problem with the Aussie dollar?

    People talk about exports.

    Someone working in the Deutsche bank in Germany is worried about the Aussie dollar. He wants his Euro to go up and AUD to go down. Selfish man.

    Why do these bad people, while living in Australia, think about the people of the outside world and forget the inside people who live and struggle to live?

    How could this country can be a 1st world country with these types of wrong people.

    Selfish poor advisors all over the place with huge salary packages, along with 3rd class politicians will never help Australia to come up.

    That is my opinion.

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