Reserve Bank of Australia governor Philip Lowe says this week's global financial market turmoil hasn't shaken his optimism that Australia's economy will rebound this year but insists it's still too soon to begin hiking official interest rates.

Noting that much of the panic on markets this week was from complacent investors who had underestimated how fast US inflation would quicken, Dr Lowe said the economy was being boosted by infrastructure work, a solid global upswing, rising commodity prices, and low borrowing costs.