Wednesday, May 3, 2023

Lowe blow - RBA governor warns of more rate hikes to confront entrenched inflation

Reserve Bank governor Philip Lowe has refused to rule out another interest rate rise after yesterday's shock hike of a quarter of a percentage point stunned economists and financial markets.

Mr Lowe has reiterated that inflation remains public enemy number one warning the central bank will act again to ensure higher consumer prices don't become entrenched in the nation's psychology.

Speaking at an RBA dinner in Perth last night, Mr Lowe seemed alarmed about sticky services inflation and rising real estate prices after the shortlived "pause" in April.

I speak on the ABC's AM program

My analysis with Tom Oriti on ABC Newsradio

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