Glass Half Full Lowe signaled a major shift in the bank’s outlook for the cash rate at the RBA’s annual address to the National Press Club in Sydney on Wednesday, striking an upbeat tone in the economy but downplaying local inflation risks and to explain the central bank’s rationale and its forecasts for the year ahead.
In his subsequent remarks he gave some “Financial Advice” saying rates may well rise, and households should have some buffers. Sound of door slamming shut after the horse has bolted…
Interest rates could plausibly lift off later this year if the economy continues to outperform expectations, Reserve Bank of Australia governor Philip Lowe has conceded, but he repudiated markets pricing four rate hikes in 2022.
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