Philip Lowe delivers speech saying it will soon be time to stop and assess the impact previous rate increases have had
“[W]ith monetary policy now in restrictive territory, we are closer to the point where it will be appropriate to pause interest rate increases to allow more time to assess the state of the economy,” Lowe said.accompanying the RBA rates verdict.
Lowe noted that the rate rises that have already occurred, including yesterday’s, would lift mortgage payments to a record 9.5% share of household disposable income later this year.values were also declining but it was “difficult to determine the effect of this on spending as there had earlier been a large run up in prices”, he said.
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