News

“In recent weeks, I have had the opportunity to discuss the priorities of financial and markets’ regulators across a range of jurisdictions. The rise and use of AI and the proliferation and impact of digitally-enabled scams were significant areas of focus at the recent meeting of the International Organization of Securities Commissions…It is reassuring that the issues ASIC is focused on in Australia, are the same as our global peers.” 

“If we think we’re on the narrow path, we can stay basically, pretty much where we are: not ruling anything in, ruling anything out…but if it turns out, for example, that inflation starts to go up again or it’s much stickier than we think we’re not getting it down, then we won’t hesitate to move and raise interest rates again.” 

“Globally recent productivity performance has been obscured by COVID-related factors. The extent to which productivity growth will recover remains uncertain, reflecting the uncertainty around medium-term trends.”

“…our Treasury forecasts for inflation factor in what we’re doing with the cost‑of‑living package and what we’re doing with the broader fiscal settings, and that is the main reason why they are anticipating that inflation will get back to the target band sooner than they were anticipating at Christmas time.” 

“As I have said before bringing down inflation, we want to keep employment growing. This is the difficult path we’re trying to navigate. Right now, we believe rates are at the right levels to achieve this but there are risks, and at this stage the Board is not ruling anything in or out.”

“Mark Zuckerberg appears to be more determined to take journalists off Facebook than criminal content off Facebook. And that priority has got to change. They’ve got to put much more effort into targeting the scammers that are making millions and millions of dollars through the social media networks.”

“We need to recognise the balance of risks in the economy is shifting and our budget strategy needs to shift as well. We are trying to land a second surplus because we think that’s a good way to recognise that the inflation fight is not yet over but you can imagine a focus in the budget in the later years towards much more substantial investments in growth.”

“…in the near term, I think it is still important that we go for that surplus, we’re not there yet. The degree of difficulty has come up a bit in recent weeks and months but that’s still our objective.” e need sharper elbows when it comes to marking out our national interest and we need to be willing to break with old orthodoxies and pull new levers to advance the national interest. We have to think differently about what Government can – and must – do to work alongside the private sector to grow the economy. To boost productivity, improve competition and secure our future prosperity.” 

“We need sharper elbows when it comes to marking out our national interest and we need to be willing to break with old orthodoxies and pull new levers to advance the national interest. We have to think differently about what Government can – and must – do to work alongside the private sector to grow the economy. To boost productivity, improve competition and secure our future prosperity.” 

“In the end, I think it’s very welcome news that the parent company has decided that they would rather provide some short term funding. But the long term issue hasn’t gone away, and we’re all going to have to get round the table. I think the players around the table are very focused on the national interest.”

“We’re keeping a keen eye also on employment numbers because as I have said before, we want to hold on to as many gains in the labour market as we can. What we need is greater confidence that inflation will return to the target band in a reasonable timeframe and will stay there.”

“…no social media platform is above the law. Frankly [I am] disappointed in Meta’s response to the consultation that we held on the codes of practice where they say yes this is a big problem but it’s all too hard, we can’t do anything about it. Give me a break. These guys are the biggest technologists in the world, they employ the best information technologists, the best engineers, the best process experts in the world, they are the biggest and the best. Don’t tell me they can’t do more.”