| KANIKA SOOD Schroders has hired from RBC to appoint a head of private debt for Australia, as it builds out a private assets offering for local investors. | ELIZABETH MCARTHUR The administrator appointed to embattled investment group iProsperity, Cor Cordis, has released a damning creditors' report which includes accusations of Ponzi scheme style payments. |
| ELIZA BAVIN Reserve Bank of Australia governor Philip Lowe said the legislated increase to the superannuation guarantee will impact wage growth and the government will need to weigh up the impacts of that. | ALLY SELBY National Australia Bank has reported a 7% fall in cash earnings to $1.55 billion for the third quarter, as the bank confirms it is still "actively exploring" options for the sale of its wealth management business. |
Surely there's enough writing on the wall that lowering interest rates is no longer the answer to what the RBA is seeking to achieve. In fact, the strategy is having the opposite effect, and will inevitably continue doing so if pursued.
The question is: is the RBA prepared to admit it's time to rethink the non-working theory, and face the reality of a rethink?
Time to revisit JM Keynes?