RBA Governor Issues Inflation Warning
(24 November 2022 – Australia) The Reserve Bank of Australia (RBA) Governor, Philip Lowe, has warned there are more rate rises are the way in a bid to stop skyrocketing inflation.
The RBA lifted Australia’s cash rate another 25 basis points to 2.85 percent in November 2022, a smaller rise than previous months. Dr Lowe indicated the central bank would be carefully looking at the effect of current rates on the economy and consider larger rises in the immediate future.
"We are not on a pre-set path, though. If we need to step up to larger increases again to secure the return of inflation to target, we will do that. Similarly, if the situation requires us to hold steady for a while, we will do that” said RBA Governor Philip Lowe.