Business
RBA to keep rates low until Australians get decent pay rise – Sydney Morning Herald
The central bank has made clear it will not lift interest rates until it sees sustainable strong wages growth and low unemployment.
But RBA governor Philip Lowe, who said the bank would buy even more government debt if necessary, argued there were few signs of an inflation rise in Australia that would require higher interest rates.
He said inflation had to be within the RBAs 2 to 3 per cent target band, adding this was unlikely until at least 2024.
For this to occur, wages growth will have to be materially higher than it is currently. This will require significant gains in employment and a return to a tight labour market, he…
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