Phil Lowe joins wage inflation scaremongers

After spending years complaining of low wage growth, RBA governor Phil Lowe yesterday warned of the need for wage restraint, arguing that 5% pay rises could see high inflation become entrenched. Lowe instead wants to see real wages continue to fall with wage increases of around 3.5%:

“It’s good to start with a three,” Lowe says…

“I hope I don’t get into an environment where I’m complaining that they … have a five in front of them.

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