RBA governor Philip Lowe says the central bank’s board is more likely to raise the cash rate than lower it at future meetings
Reserve Bank of Australia governor Philip Lowe says it is “way too early” to talk about cutting interest rates, with the central bank’s board more likely to raise the cash rate than lower it at future meetings.
Dr Lowe said updated economic forecasts and data on unemployment, business sentiment and household spending will also be pivotal to next month’s rates decision.“We’ll take all that together, and if we decide that we need higher interest rates to get inflation back to target over the next couple of years, that will be the trigger,” Dr Lowe said.
“It is increasingly clear that the higher interest rates are having an impact on aggregate household spending,” Dr Lowe said.
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