The RBA boss wants you to follow his path away from recession — even if that means more real wage cuts for workers
2 years, 6 months ago

The RBA boss wants you to follow his path away from recession — even if that means more real wage cuts for workers

ABC  

"We are not on a preset path," Reserve Bank Governor Philip Lowe observed on Tuesday, in the economic understatement of the week. This includes workers who might have hoped for some real wage growth after the election of a Labor government, which campaigned successfully with an argument about "everything going up except your wages". In other words, it's a continued real wage cut for most workers in the short term — if we're to stay on Lowe's preferred path. States back big spending On the very day Lowe delivered his speech about the path ahead and repeated his warnings about veering off course, two state Treasurers announced big spending budgets.

Labor Inflation Spending Cost Billion Cent Living Nsw Rba Wage Photo Path Lowe Wants  recession  path  cost  inflation  rba  means  cuts  real  living  spending  wage  follow  week  cent  lowe  wants  workers  billion

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RBA boss Philip Lowe defends shock interest rate rise, saying 'there is a limit' to inflation patience
1 year, 8 months ago

RBA boss Philip Lowe defends shock interest rate rise, saying 'there is a limit' to inflation patience

ABC  

Just a month after the Reserve Bank of Australia kept rates on hold — to assess the economic fallout from an unprecedented string of 10 consecutive rate hikes — on Tuesday afternoon it shocked most experts with another rise. Key points: The RBA raised interest rates from 3.6 to 3.85 per cent RBA governor Philip Lowe says inflation needs to …

RBA governor Philip Lowe warns Australians to brace for higher inflation, lower growth
2 years, 1 month ago

RBA governor Philip Lowe warns Australians to brace for higher inflation, lower growth

ABC  

Don't expect much of a pay rise, even as inflation soars and reduces what you can buy with your wages. Key points: RBA governor Philip Lowe says globalisation helped central banks keep price rises low and stable over the past three decades Increasing trade restrictions and global conflict are reversing this process and risk reduced supply and higher prices Mr …

Reserve Bank governor says inflation is rising, but he doesn't see a recession on the horizon
2 years, 6 months ago

Reserve Bank governor says inflation is rising, but he doesn't see a recession on the horizon

ABC  

Reserve Bank governor Philip Lowe has warned inflation is increasingly coming from within Australia, but he doesn't see a recession occurring at this stage. Key points: The RBA thinks inflation will reach 7 per cent this year It says inflation is increasingly coming from within Australia It admits the bank suffered "reputational damage" when it tried to wind down its …

RBA governor Philip Lowe delivers good and bad news for borrowers with jobs
3 years, 1 month ago

RBA governor Philip Lowe delivers good and bad news for borrowers with jobs

ABC  

Reserve Bank governor Philip Lowe had good and bad news for the cohort of Australians who are working and doing so largely to pay off a mortgage. Key points: RBA governor says an official interest rate hike is very unlikely in 2022 and may still not happen until 2024 Says many of the factors that have caused inflation and wages …

Reserve Bank says housing won't 'derail the economy' but tight-fisted bosses might
5 years, 10 months ago

Reserve Bank says housing won't 'derail the economy' but tight-fisted bosses might

ABC  

The Reserve Bank governor has issued his strongest call yet for bigger pay rises, telling a parliamentary committee that weak wage rises are a bigger threat to the economy than falling house prices. Key points: RBA governor says price falls "put our housing markets on more sustainable footings" Dr Lowe calls for minimum wage increase to continue being above 3 …

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