Philip Lowe admits ‘the magnitude of the pickup in inflation has come as a surprise to everyone’
The Reserve Bank of Australia governor, Philip Lowe, says they had no choice but to lift the cost of borrowing to stop ‘inflation psychology’ taking hold.The Reserve Bank of Australia governor, Philip Lowe, says they had no choice but to lift the cost of borrowing to stop ‘inflation psychology’ taking hold.
“But how high interest rates need to go and how quickly we get there will be guided by the incoming data and the evolving outlook for inflation and the labour market.Sign up to receive an email with the top stories from Guardian Australia every morning
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