Lowe: RBA to monitor factors affecting inflation
Reserve Bank of Australia (RBA) Governor Philip Lowe (pictured) said the board is prepared to patiently monitor the evolution of factors affecting inflation in the country, such as price pressures, consumption and wages.
“Based on the evidence we have, it is too early to conclude that inflation is sustainably in the target range. In terms of underlying inflation, we have just reached the midpoint of the target range for the first time in over seven years,” said Lowe.
The governor noted also that the central bank is committed to doing what’s necessary to achieve its inflation target. “We don’t want to see inflation too low or too high,” he concluded.
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