Philip Lowe, Governor of the Reserve Bank of Australia, is delivering his remarks at the ECB’s panel titled ‘Price and wage setting in advanced economies.’
Key quotes (via Reuters)
- Global factors are at work in inflation situation.
- There is a perception that we just need to accept that inflation is going to be low for a while.
- Australia is hoping to extend the non-recession streak.
- Need to be patient as long as the labor market is improving.