The Reserve Bank of Australia is “closer” to pausing its record series of interest rate rises, its governor, Philip Lowe, has told a conference in Sydney.
In his first public comments since Tuesday’s decision by the RBA board to lift its cash rate for a 10th straight meeting by another 25 basis points to 3.6%, Lowe said inflation was “still too high”, but Australia’s modest increases in wages so far have left the nation “in a better position than some other countries”.
