RBA unlikely to hike in short term on low inflation – governor
Current wage growth insufficient to hit inflation target on a sustained basis
The Reserve Bank of Australia is unlikely to increase interest rates in the short term due to a below-target inflation, said governor Philip Lowe in a speech at the Australian Industry Group on June 13.
“Any increase in interest rates … still looks to be some time away,” Lowe said. “The board will want to have reasonable confidence that inflation is picking up to be consistent with the medium-term target and that slack in the labour market is lessening.”
The RBA targets annual price increases
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