Pause in interest rate rises is ‘closer’, RBA chief says a day after 10th straight increase

Philip Lowe delivers speech saying it will soon be time to stop and assess the impact previous rate increases have had

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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".

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