RBA Gov Lowe: Closer to point of pause for rate hikes

Reserve Bank of Australia Governor Lowe speaking

Headlines via Reuters:

• Closer to point where it will be appropriate to pause interest rate increases
• Timing of pause will be determined by data and our assessment of the outlook
• Further tightening likely to be required to bring inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term back to target
• Recent rate increases have moved monetary policy into restrictive territory
• Board discussed policy lags, large rate rise already delivered and impact on households
• Need to get inflation down fairly soon to keep expectations anchored
• Wage and GDP data suggest risk of a prices-wages spiral remains low
• Remain alert to wage risks given the tight labour market
• Monthly CPI showed welcome drop in Jan, first sign of slowing goods inflation
• Inflation in services and rents still growing briskly
• Bounce-back in spending following pandemic has now largely run its course
• Cost-of-living pressures, higher rates, fall in house prices weighing on consumption
• Jan drop in jobs likely statistical noise, looking to see a rebound in Feb
• Underlying inflation globally is proving to be uncomfortably persistent

Full text is here:

• Inflation and Recent Economic Data

Live link (audio) is here

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Lowe's remarks fit in with his less hawkish statement yesterday:

• RBA announce a +25bp cash rate hike to 3.6%. As expected.
• AUD/USD marked a little lower, less hawkish Reserve Bank of Australia Gov. Lowe Statement
• ForexLive Asia-Pacific FX news wrap: RBA’s ‘dovish rate hike’ sends AUD/USD dipping
• Aussie lower after RBA offers subtle change to policy guidance

On that 'rebound in jobs in February' remark - we get the Australian February jobs report on Thursday next week. If the rebound is hefty enough it'll scupper plans to be less hawkish.