RBA hints at slower pace of interest rate hikes as it fights rampant inflation
Philip Lowe, RBA Governor, has defended his own position, hinted that the pace of interest rate hikes may slow, and called into question one of the bedrocks of Australian monetary policy over the past 30 years.
RBA Governor Philip Lowe has defended his handling of monetary policy over the past year. (Image source: Shutterstock.com)
In a wide-ranging speech with implications for every Australian household, Reserve Bank Governor Philip Lowe refused to stand down, hinted the RBA could soon take its foot off the interest rates accelerator and questioned the validity of the bank’s long-held 2-3 per cent inflation target.
Updating their forecasts in the wake of Thursday’s speech (8 September) in Sydney, the major banks are tipping rates to eventually peak at either 2.85 per cent…
