Reserve Bank Governor Philip Lowe says if the RBA did not put up interest rates, “inflation will stay high”.
“Interest rates will have to go higher later on and there’ll be more unemployment,” Mr Lowe said during a National Press Club address.
“This rise in interest rates has been necessary, and if we didn’t do it then there’s more pain down the track.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
RBA boss Lowe says pause 'does not imply that interest rate increases are over'The Reserve Bank boss warns households to brace for more interest rate rises, especially if businesses keep putting up prices or workers demand bigger pay rises.
Read more »
Australian banks remain ‘well-positioned’ amid overseas issues: RBA Governor Philip LoweReserve Bank Governor Philip Lowe says the impact of the recent bank issues has been limited in Australia as our banks remain “well-positioned” to provide the credit and financial services for the country. “Here in Australia the impact of the recent banking problems overseas has been limited, our financial markets are working well and Australia’s banks remain well-positioned to provide the credit and the other financial services the economy needs,” Mr Lowe said at the National Press Club of Australia conference on Wednesday.
Read more »
Borrowers eye Reserve Bank as it decides on interest rates riseThe RBA will meet today to consider whether to raise interest rates for the eleventh consecutive time. 9News
Read more »
Reserve Bank hands borrowers a reprieve by leaving interest rates on holdThe Reserve Bank gives mortgage borrowers a reprieve, at least temporarily, by leaving interest rates on hold at today's board meeting.
Read more »
Rates on hold: Reserve Bank gives home buyers short-term reprieveBREAKING: The Reserve Bank has held official interest rates steady for the first time in a year, delivering some pre-Easter relief to the nation’s home buyers.
Read more »
Rates on hold: Reserve Bank gives home buyers short-term reprieveWhile the bank held official interest rates steady for the first time in a year, RBA governor Philip Lowe signalled that further increases were a possibility.
Read more »