Responding to the Q&A at the Anika Foundation Fundraiser, the Reserve Bank of Australia (RBA) Governor Philip Lowe said that he is hopeful that they can navigate the narrow path to a soft landing.
Additional comments
Demand has to grow more slowly to bring back in line with supply.
There is significant demand element to higher inflation, not just supply.
Very concious there are lags in monetary policy.
Very possible wage growth does not pick up much further.
Quantitative tightening is not on our agenda.
Has no plans to resign.
Market reaction
In an immediate reaction to the above comments, AUD/USD is testing daily lows near 0.6715, losing 0.72% on the day.