RBA boss tells Aussies to brace for more shocks
In the face of a cost-of-living crisis, Australians had to expect to cope without wage increases as interest rates also continued their upwards trajectory, according to the country's central bank chief.
Global trade is retracting and threatening to put more pressure on inflation, and in turn, interest rates. (Image source: Shutterstock.com)
Australians need to get used to high interest rates, inflation, high energy prices and low wages for the next couple of years.
That’s the blatant and somewhat dire warning from the Reserve Bank of Australia (RBA) chief Philip Lowe, who also threw global upheavals into the mix of things Australian households can worry about.
Delivering a speech Tuesday night to the not-for-profit Committee for Economic Development of Australia (CEDA), the RBA go…
