Philip Lowe, the governor of the Reserve Bank of Australia, has already had to apologise for his forecast that interest rates were unlikely to rise until 2024.

He now acknowledges that people may have taken his prediction as an assurance, and as a result they might have bought homes and saddled themselves with debt that’s more expensive than they thought.

So, the pressure was on Lowe as he made his way to Canberra last week to answer questions about his decision making.

Today, chief political correspondent for The Saturday Paper Karen Middleton on what Philip Lowe said in Canberra, and whether his job is on the line.

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Guest: Chief political correspondent for The Saturday Paper, Karen Middleton.

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From the Vault: Washing of the Waters, Part 3