In a 90-minute Senate grilling, RBA governor Philip Lowe outlined the bank’s reasoning for higher interest rates. These are the answers that made his case.
For 90 minutes on Wednesday, Reserve Bank governor Philip Lowe faced questions from senators about his handling of interest rates and the direction of the economy., whose seven-year term as governor is due to end in September, in front of a parliamentary committee this week with a grilling from House MPs due on Friday.
On Wednesday, economists at TD Securities said they now believe the bank will have to take the cash rate to 4.35 per cent.Lowe told the Senate committee that more rate rises were likely, even if that meant making the RBA less popular with Australians.
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