The Reserve Bank governor says the board is considering a pause after 10 consecutive interest rate rises, but the timing will depend on incoming economic data.
abc.net.au/news/rba-governor-philip-lowe-afr-business-summit/102066846The Reserve Bank governor has indicated that the board is considering a pause after 10 consecutive interest rate rises, but the timing would depend on incoming economic data.
"At what point it will be appropriate to pause will be determined by the data and our assessment of the outlook."Mr Lowe's comments are a stark contrast to the US Federal Reserve, whose chair Jerome Powell last night flagged the possibility of more aggressive rate rises. Instead, Mr Lowe has backed away from firmly locking the bank into further rate increases, as recent GDP, employment and wages data has disappointed, and with per capita consumer spending already falling in response to the rate rises implemented last year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Calls for Reserve Bank to slow rate rises amid fears of rising suicide rateAs Australians nervously wait for today's interest rate decision, experts are concerned the impact on the community's mental health will increase in the next year as the cost of living pressures bear down. 9News
Read more »
'It will sting': Reserve Bank delivers 10th straight rate rise, with more to comeThe Reserve Bank of Australia (RBA) raises interest rates for the 10th consecutive meeting, taking the cash rate target to 3.6 per cent.
Read more »
RBA interest rates: Reserve Bank increases official cash rate to 3.6% in record 10th consecutive riseInterest rates at highest level since mid-2012 as central bank continues to try to drive down inflation
Read more »
Reserve Bank’s Lowe takes stock of his inflation-fighting campaignReserve Bank governor Philip Lowe recognises that his inflation-fighting campaign has now entered a new and particularly tricky phase.
Read more »
‘Stark difference’: Greenwood on RBA Governor’s current language on rate risesSky News Business Editor Ross Greenwood says the language of the Reserve Bank Governor Philip Lowe has had a “wholesale change” from a month prior. “The language of the Reserve Bank governor – wholesale change, and so rather than actually pointing there needed to be further interest rate rises, it was there may be further tightening of monetary policies ahead,” Mr Greenwood told Sky News host Peta Credlin. “Quite a stark difference from what was being said just a month ago when the Reserve Bank at that time was really quite determined it wanted to defeat inflation.”
Read more »