Deputy Governor of the Reserve Bank of Australia, Andrew Hauser joined business journalists on Tuesday, 8 October at the 2024 Walkley ING Business Lunch and Finalists announcement hosted by the Walkley Foundation.
The chair of the Walkley Foundation Adele Ferguson conducted a lively Q&A with Mr Hauser before opening to questions from the floor.
In his speech, Mr Hauser emphasised the paramount role business journalists play “not just as translators and explainers” but in lifting the “quality and robustness of… analysis”.
“Most people still hear about us through you (the media). Indeed, despite the talk of an increasingly fractured media, with the growth of social media and on-demand streaming, recent research from the ECB shows that overwhelmingly the dominant source of information about central bank policy remains TV, radio and the press.
“But we need you not just as translators and explainers. We need your challenge. Knowing your analysis has to withstand public scrutiny drives an enormous lift in the quality and robustness of that analysis. I saw that up close at the Bank of England in the 1990s when we first embraced real transparency. Poor arguments, which went unquestioned in grey smoke-filled rooms, did not survive the rigour of public examination.
“But all of us in public life must – and do – recognise the privilege that comes with our roles, and the accountability we owe, via you to the public at large. So I want to thank you – not just for the vital role you play in helping to explain the complexities of economic policy, but also for your informed scrutiny and challenge, which forces us to raise our game and stay accountable for the huge powers we wield. If the cleansing effect of transparency is to continue to be effective, so must your role.”
Mr Hauser became Deputy Governor on 12 February 2024. He is the Deputy Chair of the Reserve Bank Board.
Prior to his current role, Mr Hauser held a variety of senior positions at the Bank of England, most recently as Executive Director for Markets. He was also Executive Director for Banking, Payments and Financial Resilience; oversaw the Bank of England’s quarterly Inflation Report, its regional agency network and its international economic analysis; served on the secretariats of the Monetary and Financial Policy committees; was chief of staff to the Governor in the aftermath of the global financial crisis; and alternate Executive Director at the International Monetary Fund in Washington DC.
See all the 2024 Business finalists here.
For media enquiries contact Communications Manager James Gorman on james.gorman@walkleys.com