Heather Ridout

The Reserve Bank Board is widely seen as the most prestigious board appointment in Australia. It is far from demanding – imposing none of the normal corporate governance demands of other boards. Its members enjoy a lovely lunch (especially on Melbourne Cup day) and the RBA wine cellar is second to none. Each month the Board members get to hear about the Australian and world economies, and have a lively but gentle discussion as one would at a good dinner party. It is all care and no responsibility. In the end the decision – up, down or unchanged – is for the Governor backed by the Treasury Secretary.

In exchange for this privilege – sitting on Australia’s most prestigious Board –  members are expected to keep their mouths shut.  For a Board member to appear on Q&A is unthinkable. That would be for the Governor.

It seems Ridout was late for the induction. She has no role in appearing on Q&A.

About J

J has an economics background and is a part-time consultant
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30 Responses to Heather Ridout

  1. Gilas

    Wasn’t she the Business Council leader who supported the Labor rabble’s economic vandalism?
    She will make a valuable contribution to Q&A then!

    PS. Why would anyone with any intellectual integrity still bother watching this electronic excrement?

  2. Ed

    She’s listed to appear tonight. Maybe she can share some fun anecdotes about sitting on the Reserve board.

  3. Token

    Do you think she will be pushing the issues which are furtherest from the minds of Australian society like gay marriage or what?

    How much of her time will be spent trying to re-write the history of her role of being a quisling for the Liars Party at the employers body?

  4. Gab

    Oh that’s nice of her to represent the RBA on a television show. Wonder if such a situation is covered in their Code of Conduct.

  5. Token

    Unfortunately Sellout is showing that all she is doing is keeping a suitably accomplished women from the having the role.

  6. Ed

    Let’s keep an eye out for hints about which way interest rates are going.

  7. Judith Sloan

    Did Warwick McKibbin ever appear on Q&A when he was on the RBA board? I know he grappled with the challenges of refraining to speak about matters pertinent to RBA proceedings and he always erred on the side of caution. Not it seems Heather. Don’t forget she is also Chair of AustralianSuper.

  8. Andrew

    So she will promote SSM, smear Abbott666 AND call for great big new taxes on super (but only SMSFs)?

  9. Econocrat

    Heather Ridout has no role on the RBA Board.

  10. JC

    The government should fire her and reinstate McKibbin to the board.

  11. philip j. fry

    Ridout continues her role of blocking and disenfranchising actual social progress of the conservative side of Australian society which she pretends to represent.

    She is a professional laissez faire blocker and is more suited to the Labor/Union side of our political system as she is more sympathetic to the left but claims not to be .. her actions are the opposite of her words.

  12. Andrew

    I wonder what she will (or won’t) say if asked about interest rates or exchange rates after this

    http://www.asia.wsj.com/articles/SB10001424052702304856504579339702383799902?mobile=y

  13. .

    If there was ever a deep cover agent in Australian politics, it was not Rudd or Graeme Bird, it was Heather Ridout.

  14. Blogstrop

    It’s never been a good sign if the ABC likes you.

  15. Infidel Tiger

    Has Ridout ever run her own business or is she is a professional grifter?

  16. H B Bear

    Ridout has always been part of the problem.

    A KRudd-Gillard-KRudd stooge that ran away and joined the circus.

  17. Baldrick

    From the Code of Conduct for Reserve Bank Board Members:

    “Members must take great care when dealing with offers of entertainment, travel, accommodation or any other benefit from third parties. Members must avoid any possibility of actual or perceived conflicts that might arise from such offers that could damage the Bank’s reputation for integrity and independence.

    Members must respect the confidentiality of information obtained as a Board member and Board discussions, both during and after their term. Members, who in the ordinary course of their activities outside the Bank have occasion to discuss economic matters, will do so on the basis that the views so presented are personal or affiliated with another institution, not the Bank.”

  18. Eyrie

    The RBA are a bunch of thieves engineering inflation.

  19. Jim Rose

    she forgot to be a faceless gnome

  20. Squirrel

    I hope she gets some questions about that “second to none” wine cellar – sounds far more interesting than the usual Q&A wand polishing.

  21. old44

    Infidel Tiger, you didn’t go far enough.

    Heather Ridout has various other appointments including Director of the Australian Super Trustee Board[4] and the Australian Research Alliance for Children and Youth. She is member of the board of the Climate Change Authority.

  22. Squirrel

    Answering my own question:

    http://www.centralbanking.com/central-banking/news/1408475/documents-rba-basement-holds-huge-wine-cellar

    but I’d be happy to hear from Heather on the subject – perhaps some updates on developments since 2003.

  23. Tardell G

    Can someone explain to me why the dollar has to be controlled anyway?

  24. Leigh Lowe

    Has Ridout ever run her own business or is she is a professional grifter?

    As far as I can tell, no.
    Straight out of Uni she worked as a researcher for a Liberal MP.
    Then it seems she took time out to have kids, and various sources say she spent 25 years at AiG and MTIA industry groups.
    Interestingly, most on-line bio’s I could find seem vague about timelines in her early career (see also, Gillard, Julia 1992-1996).
    So the career path has pretty much followed the path which has so weakened the ALP (political advisor, Industry Advocate body), except that she was on the employer side of the IR Club.

  25. Leigh Lowe

    Can someone explain to me why the dollar has to be controlled anyway?

    Because it’s been naughty?

  26. Mon

    Lets hope Ridout has lots to say and then it will be easy to remove her.

  27. .

    Heather Ridout has various other appointments including Director of the Australian Super Trustee Board[4] and the Australian Research Alliance for Children and Youth. She is member of the board of the Climate Change Authority.

    What does she actually do? She’s worse than a spiv, she’s a bludger.

  28. hzhousewife

    Has Ridout ever run her own business or is she is a professional grifter?

    As far as I can tell, no.
    Straight out of Uni she worked as a researcher for a Liberal MP.
    Then it seems she took time out to have kids, and various sources say she spent 25 years at AiG and MTIA industry groups.
    Interestingly, most on-line bio’s I could find seem vague about timelines in her early career (see also, Gillard, Julia 1992-1996).
    So the career path has pretty much followed the path which has so weakened the ALP (political advisor, Industry Advocate body), except that she was on the employer side of the IR Club.

    IMHO, in thrall to Big Business, such a huge waste of 25 yrs, but no-one with balls stood up to replace her, because the roles at AIG and MTIA are/were worthless in the big scheme of things.

  29. sabrina

    Warwick M appeared in the Lateline in 2010, 2011 as far as I can remember. He visited the OECD in 2008-2009 extoling the virtues of his version of the C-price.

    Members accept that the Governor, and where appropriate on occasion the Deputy Governor, is the only spokesperson for the Board on monetary and financial system stability policy matters. Exactly what code of RBA ethics is Heather breaking by appearing on the Q&A?

    On a related note, many Economists have never run a business, but acted as Director in the interest of that business quite well.

  30. Whistleblower

    Having watched a replay of Heather Ridout on Q&A I was extremely disappointed at her shallow grasp of economics whilst claiming to be an economist.

    I suspect she’s been the “token woman”appointment based on the limited cognitive grasp she had of the issues on the program and her left of centre outlook as displayed. She even made Tony Jones look balanced

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