SYDNEY: The Reserve Bank of Australia (RBA) “will do what’s necessary” to bring inflation back down to its 2% to 3% target, governor Philip Lowe said, in a hawkish signal that interest rates have further to rise to achieve that goal.
Inflation could accelerate to as much as 7% by year’s end and is unlikely to begin slowing until the first quarter of 2023, Lowe said in an interview with Australian Broadcasting Corp on Tuesday evening.
