Australian central bank says not obsessed with getting inflation back to target in a hurry
Add BT as a preferred source
[MELBOURNE] Australia's central bank is not "obsessed" with getting inflation back to its 2 per cent to 3 per cent medium-term target in a hurry, Governor Philip Lowe said on Thursday.
Mr Lowe added that the government and business should use record low interest rates to invest more. The Reserve Bank of Australia (RBA) cut rates three times last year to 0.75 per cent to help revive growth and inflation.
Mr Lowe and his Canadian counterpart Stephen Poloz were speaking at an Australia-Canada economic leadership forum in Canada.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Malaysia’s 8th richest man Jeffrey Cheah wants Sunway business to last 10 generations
US-China rivalry and the Kindleberger Trap: Why inaction – not escalation – is the biggest risk
How China’s young workers are securing their future even as AI disrupts job market, triggers pay cuts
