Reserve Bank boss sees risks in raising interest rates too early; warns of "abrupt adjustment" if global central banks hike rates aggressively

Reserve Bank governor Philip Lowe has once again urged caution about raising interest rates too quickly warning that hiking too early could jeopardise falling unemployment levels.

Mr Lowe is confronting rising inflation here in Australia and around the world but says the RBA will be patient before pushing the rate rise button.

Speaking before the House Economics Committee, Mr Lowe said action by global central banks to confront inflation could create an "abrupt adjustment" around the world if rates aggressively rise.

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