Australian Economy Australian interest rates

Phil Lowe hoses the interest rate hawks (again)

Thursday, 3 February 2022

RBA Governor, Phil Lowe, addressed the National Press Club yesterday, whereby he reiterated that the official cash rate will likely remain on hold until next year.

While the RBA admitted that the economy has performed “significantly better” than the Bank forecast:

And the RBA has lowered its unemployment forecast “to around 3¾ per cent by the end of this year and be sustained at around this rate during 2023”:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.