Business
Unleash hell: Reserve Bank launches fresh battle to save the economy – The Sydney Morning Herald
The package of measures unveiled by the RBA on Tuesday is as close as governor Philip Lowe will go to channelling his inner gladiator.
Yet matched against the economic forecasts, which suggests inflation well short of the RBA’s own target band and a jobless rate of 6 per cent at the end of 2022, the bank is a long way from declaring victory.
While saying he is optimistic about the future, Dr Lowe conceded the Reserve won’t be lifting official interest rates over the next three years.
“I certainly hope that the economy will be sufficiently strong sometime over the next 5 years to warrant an increase in the cash rate,” he mused.
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