Reserve Bank governor Philip Lowe has calmed fears about an imminent interest rate hike, saying Australia should be patient and wait for living standards to rise before slamming the brakes on the economic recovery.
In his first public remarks of 2022, Dr Lowe said on Wednesday that while inflation has “surprised on the upside”, price rises for goods like electronics and petrol aren’t fast or broad enough to merit an “immediate” rise in rates.
