Reserve Bank Governor Philip Lowe has been keen to tell us his view on what’s ahead for inflation, what he’s planning to do about it and what is likely to happen to interest rates.
Only last year he said the RBA wouldn’t increase interest rates until they saw signs of strong “real” wage growth.
But last week he told workers that they should not be looking for wage growth to match inflation, in other words, if they don’t accept cuts in “real” wages, then their greed will be responsible for a level of inflation that would be difficult to control without sinking the economy.
There are lots to unpack from this discussion so I’m looking forward to my weekly Property Insiders chat with Dr Andrew Wilson, chief economist of My Housing Market.
01:32 — Across-the-board wage hikes a ‘risk to economy’: Philip Lowe
05:46 — Headline CPI of 7% by end of the year
08:10 — NSW Stamp Duty reform
10:10 — Early Winter Auction Markets Holding Steady – More or Less
You can also read the full article on Property Update: https://propertyupdate.com.au/property-news-headlines-forecasts/
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