ANZ CEO Shayne Elliott has warned the clock is ticking for the 2032 Brisbane Olympics.

In an honest assessment on Brisbane Live, he said hosting the Olympics was an enormous undertaking and it wasn’t always a financial success.

“In fact the data would suggest that cities when they take these things on, underestimate the cost and complexity of delivery and they overestimate all the benefits,” he told Neil Breen.

“And so you need to have a dose of reality really early on, but look again, it’s 10 years there is still time but boy the clock is starting now.

“That time will fly by very, very quickly.”

Press PLAY below to hear his interview in full, including how Brisbane stacks up 

“It’s right, inflation is a bad thing it eats away at your living standards, nobody benefits from inflation,” he said.

“The problem we have got here is, we’ve suddenly, and it has been really sudden, we’ve all lived through years of no inflation, and now it is rampant, 7-8 per cent.

“The Reserve Bank is trying to slow the economy down, and they want to take money out of your pockets to stop you spending so that we can get inflation under control.”

He said the RBA will have to keep lifting rates until Australians get the message.

“[Dr Lowe] is going to have to keep raising rates until we get the message, until it starts to get a little bit of pain into people’s pockets.”

Image: Bradley Kanaris/Getty Images