Philip Lowe says RBA officials are still trying to work out what ‘normal’ level of rates may be given slow wages growth
The Reserve Bank governor has confirmed that Australia’s official interest rate will remain near historical lows for years, with inflation unlikely to hit 2% until the end of 2019 at least.
Dr Philip Lowe said RBA officials were still trying to figure out what the new “normal” level of interest rates might be, because wages growth and inflation were not behaving as they have in the past.
Source link : https://www.theguardian.com/australia-news/2017/nov/22/australias-interest-rate-will-stay-low-for-years-reserve-bank-governor
Author : Gareth Hutchens
Publish date : 21 November 2017 | 7:41 pm
Copyright for syndicated content belongs to the linked Source.