abc.net.au/news/philip-lowe-ced-speech-inflation-interest-rates/101685190The Reserve Bank governor has warned that life is going to continue being difficult for monetary policymakers — which likely means most households and businesses as well.RBA governor Philip Lowe says globalisation helped central banks keep price rises low and stable over the past three decades
Increasing trade restrictions and global conflict are reversing this process and risk reduced supply and higher prices Mr Lowe says the effects of climate change are also likely to push prices up and make them more volatile After nearly three decades of low and stable inflation that generally remained within the Reserve Bank's target range of 2-3 per cent, central bankers were caught off-guard by the prices surge during the past year-and-a-half.
"An inflation rate of 7 or 8 per cent was something that was widely thought to be consigned to the history books," RBA governor Philip Lowe said at the Committee for Economic Development of Australia's annual dinner.Mr Lowe again warned that it was important for inflation to be tamed quickly, before expectations of higher prices set in, otherwise it would be much harder and more economically damaging to do so, as was the case in the 1980s and early '90s.
For the rich 🤑
This current world system is sinking and it is sinking fast just like the titanic. You need to get on the life boat and that life boat is Jesus. I'm not telling you to be religious. You can be saved right now by putting your faith in Jesus Christ Gods Son.
If Wages don't go up, people aren't supported or protected how can they survive, Globalisation has positives but also has taken people's local lively hood The government/ RBA might be able to control inflation but doing so is going to crush so many people like never before.
A number of those actions in those earlier era's of inflation was because the government actually cared about people's wellbeing, If you only view it from an economic perspective of course you would wonder but society is not that simple. Outside factors occured.
It would help everyone if the RBA and Govt got off their addresses and did something about reigning in the insane profits being made by big corporates. That alone would reduce the inflation impact to where Mr & Mrs average don't get acted further
Killing Australia slowly that's the motive.
Words from a millionaire out of touch with society, pushing for the global reset, Tell me Gov, in what Country has trickle down economics ever ‘tickled’ any further than lining the pockets of the wealthy who scream foul when they Are asked to pay their workers more?
Forgot to mention that QE and showering corporations + global money markets with trillions of dollars had a major effect on inflation and corporate profits - but justifying how the working class must still pay for that largesse with a drop in real wages.
Let’s solve this issue by sending more taxpayer money to Ukraine.
This shonk has apparently passed the buck to the Government. What a waste of 1 million dollars.
The government is letting the country down by not introducing a windfall profits tax.
Oh look, another rich guy telling the poor we just can't afford to pay you more. RBA
When the dollar is US 25 cents the BMWs will disappear
'Life is more complicated' but we'll just keep doing the thing we've been doing to no effect.
He doing his job yet? and sticking the rates up....no I thought not...I have a bubble to protect!
How to equalize with 3rd world economies. Bring your own to a shuddering halt. Nothing in the Crimes Act about this being done to your country.Pity.
Don't think I'll ever trust a word out of someone's mouth on the cost of living when they make more than a million dollars a year. They're out of touch and removed from society
why are we celebrating white male incompetence while paying him to do so?
Seriously Lowe has been so far off the mark for the last 12 months that he should resign. He is a pretender who really has no idea of what your average Joe is going through 🤬🤬🤬🤬🤬🤬🤬Disgraceful
Trying to deflate a PONZI SCHEME is always complicated.
I guess we’ll have to, to protect our high rents and house prices which is and will continue to add to inflation.
This guy is having us All on
GDP from Mining in Australia increased to $48865 Million in the second quarter of 2022 RBA gov shows off his new tie to inspire us common plebs with the message 'Don't expect much of a pay rise, even as inflation soars and reduces what you can buy with your wages.'
Like interest rate predictions ... huh
The good news is that rates won't increase until 2024. Nostradamus says so.
You tax income then tax the same money on a purchase, perhaps you can think of a 3rd tax on the same money.🙄
When crops/vegetables have been washed away in flood, and fuel prices have sky rocketed, whatever you do, prices is not going to come down. Higher interest rate is going to slow down construction sector and businesses with massive unemployment. Is this what RBA aiming for?
Yep. Federal budget failed on growth, ignores inflation and interest rates. Jobs will inevitably go too. RBA was cautious waiting for the budget to do something… the rba has to do all the heavy lifting now.
Thanks to Zionism
Yes. He should know, his decisions causes it. Only following WEF commands.
Here comes a recession
economic terrorist
Lowe only had ONE job! Australians need a classaction against Lowe & the RBA for continously advising interest rates wouldnt rise til 2024.
If there was justice, he should be bracing for a lengthy jail term, I hear life is simpler in there...
Inflation is produced by the banking empire. They drop their interest rates and lend like crazy. This fuels a sales boom. The trap is set! Then they say they need to increase the interest on those loans which fuels the inflation. They over lend without enough equity
More Lib Developer deals
Just print more money!
Does anyone have any controls over price gouging,obviously not,unless its the price of labor.
Inflation is no problem because wages are only going up 2-3%
How wrong does this guy need to be proven before losing his job? Why do we even bother to read/listen to a word he says?
Is this a the forecast we can trust Gov%*£! The last one only cost the nation unplanned mortgage stress and a possible trip into rescession.
It's all good, Phil. Just a little inconvenience. Australia has Putin and extreme climate change on the ropes!
Lucky Phil is totally useless
“We are going to let inflation run hot to protect inflated housing valuations”
AKA Stagflation
Knuckle Heads
In other words, standard Labor policy induced conditions.
Smirk smirk smirk you smirker!
Yeh, but renewable energy is cheaper or is that BS also? SA produce more green energy than they can use some days so why is electricity going up?
RBA Governor, has no credibility with his financial prediction for higher inflation, lower economic growth, coming from a man that predicted that the interest rate would not increase for three years - does not cut the mustard!!
Higher inflation? Does he mean companies price gouging to maintain profits and pander to shareholders while giving lazy CEOs bonuses?
When will they 'retire' this Boomer!
He should never have uttered those 2024 words. It was amateur hour. RBA doing what they have to do now, but he won’t live that down, ever and nor should he.
He’s sacked in September. Also his legacy, no increases until 2024. Forever an albatross around his neck.
Has he heard of Ross Garnaut?
Tell him to brace for unemployment because he’s fucken fired.
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