Australia's RBA head says rates will more likely go up than down

[SYDNEY] Interest rates in Australia are more likely to go up than down, the country's top central banker said on Thursday, although they will stay at record lows for some time as inflation was still weak.

Reserve Bank of Australia Governor Philip Lowe was answering questions at a business event in Perth, after a speech in which he said rising global interest rates would have no "automatic implications" for the country.

Lowe said it was hard to see inflation getting above 2.5 per cent anytime soon.

REUTERS