Governor Philip Lowe has indicated the official interest rate could double in coming months as the Reserve Bank of Australia moves swiftly to normalise pandemic-era monetary policy and curb rising prices.
Dr Lowe on Wednesday stressed the importance of getting inflation back to within the bank’s 2 per cent to 3 per cent target band, which would require more rate rises this year.
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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
