Business
Interest rates will stay low until wages grow, says RBA governor – The Age
Philip Lowe has made clear interest rates will likely stay low until 2024 while warning tighter lending standards may be used to cool house prices.
The Reserve Bank has set itself to have wages growing at their fastest rate in almost a decade by keeping interest rates low until 2024 while using tighter lending standards to prevent a surge in house prices.
Speaking in Sydney to the Australian Financial Reviews business summit, Reserve Bank governor Philip Lowe said even though the economy was doing much better than expected, interest rates would only start rising when wages were growing fast enough to lift inflation.
RBA governor Philip Lowe…
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