RBA’s ‘opaque’ approach to interest rates no consolation to those hardest hit by inflation

Philip Lowe may have the patience of a saint on interest rates but he doesn't have a mortgage to pay

Patient" is a useful word for the reserve bank governor, Philip Lowe, when it comes to the timing of any interest rate rise. It's vague and gives few clues as to how much time is left.

After Tuesday's RBA meeting, Lowe said the bank's board was prepared to be patient as it monitors how the various factors affecting inflation in Australia evolve". He echoed the sentiment at Wednesday's National Press Club address on the year ahead.