RBA Governor Philip Lowe told a parliamentary committee that it is “too early” to conclude that inflation is “sustainably in the target range”. He added, “in underlying terms, inflation has just reached the midpoint of the target band for the first time in over seven years”.
The board is “prepared to be patient” and “we have scope to wait and see how the data develop and how some of the uncertainties are resolved. Countries with higher inflation rates have less scope here.”
