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business reporter Michael Janda

RBA governor Philip Lowe says pause 'does not imply that interest rate increases are over'

Philip Lowe RBA Reserve Bank

Reserve Bank governor Philip Lowe explained the rationale behind the decision to pause rate rises this month. (ABC News: Matt Roberts)

The Reserve Bank boss has warned households to brace for more interest rate pain, especially if businesses keep putting up prices or workers demand bigger pay rises.

Speaking at a National Press Club lunch in Sydney, RBA governor Philip Lowe told the gathered reporters that yesterday's pause after 10 consecutive rate rises should not be interpreted as a peak in the cash rate.

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