Ex-RBA Chief Lowe Urges Policy Pause to Assess High Labor Costs
Update: 2025-10-30
Description
Former Australian central bank Governor Philip Lowe advises the Reserve Bank of Australia to sit still on interest rates due to uncertain inflation outlook. He emphasizes the need to boost productivity to address high unit labor costs and suggests that slowing wage growth might be necessary if productivity doesn't increase. Lowe, who faced criticism during his term, now believes rates should remain on hold, giving policymakers time to assess recent price spikes. He expresses optimism about China's long-term potential, despite its current economic challenges.
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