Earlier from Reserve Bank of Australia Governor Lowe, speaking in parliament again today:
- RBA Gov Lowe says high inflation is damaging, corrosive. Will do what is necessary.
- RBA Gov Lowe says rate rises in Australia are not over
More now:
- January job numbers had little impact on expectations for more rate hikes
- if we saw another weak job report might reconsider tight labour market
- monetary policy is restrictive, fiscal policy is neutral
- government is saving the majority of the terms of trade windfall
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- preferable to move rates in little increments rather than in large ones
- policy action is in an uncertain environment
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