RBA's Lowe: Not thinking of rate increases in 2023

Lowe brushes aside talk of any quicker pace to the RBA outlook

• Need much more positive wage growth forecast to expect rate hikes in 2023
• That does not seem likely
• So, unlikely cash rate will be raised before 2024
• Expects further upward revisions to economic forecasts

Well, much like most forecasts and central bank views, a lot of it will be subject to how economic conditions develop moving forward so we'll have to wait and see.

But the RBA has laid out earlier that they won't be considering any shift in stance prior to November this year, so expect more of the same by Lowe in the months ahead.