Recession not on horizon, says RBA's Lowe

Governor Philip Lowe says the Reserve Bank will do what it takes to bring inflation under control. (AAP)

Reserve Bank governor Philip Lowe does not expect Australia to fall into another recession as a result of raising interest rates to contain inflation.

Nor does he expect the RBA board will need to lift the cash rate by 75 basis points in one go, as seen recently seen in the United States where it is battling an even steeper rise in inflation.