RBA Gov. Lowe says not clear high CPI will be sustained, still need wage growth above 3%

Earlier from Lowe:

RBA Governor Lowe says its plausible the cash rate will rise later this year

More now:

• risks on inflation have moved to the upside
• its still not clear that high inflation will be sustained in Australia
• still need wage growth above 3%
• do not have a plan locked in rates, looking every month
• can afford to look through a period of high inflation