Reserve Bank governor Philip Lowe has apologised for suggesting to Australians that interest rates were going to stay low. Read more here:
Many people took out mortgages based on the forward guidance.
"I'm sorry that people listened to what we've said and acted on that, and now find themselves in a position they don't want to be in," Mr Lowe told a Senate committee on Monday. "If we had known Omicron wasn't going to be like Delta, we would have considered a different path," he said.in the order of 6 to 7 per cent would make its job of taming inflation harder, he dismissed accusations he did not want to see real wage growth for workers.
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