Reserve Bank of Australia warns borrowers to expect more interest rate rises
by Australian Associated Press from World news | The Guardian on (#60JW8)
RBA governor Philip Lowe says rates are still very low for an economy with low unemployment and high inflation
The Reserve Bank board is committed to doing what is necessary to ensure inflation returns to the two to three per cent target and households should be prepared for further interest rate rises, governor Philip Lowe has warned.
He said while rising inflation had been driven by global events, increasingly domestic factors in Australia were coming into play.
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