- by foxnews
- 07 Nov 2024
Philip Lowe says rebounding property market among reasons for shock RBA rate increase
Philip Lowe says rebounding property market among reasons for shock RBA rate increase
- by theguardian
- 03 May 2023
- in news
1.9 k views
The comments, coming hours after the RBA raised its cash rate 25 basis points to an 11-year high of 3.85%, expand on the short statement Lowe issued to accompany the hike.
The central bank also tracks rental prices closely not least because they feature in the basket of goods and services that comprises the consumer price index.
Lowe also referred to rents in his Perth speech.
The US Federal Reserve is expected to respond to similar forces later this week by raising its key interest rate 25 basis points.
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