Australian Central Bank Considering Possible for and Against Rates Hike in 2022

Top central banker of Australia on Wednesday said there are scenarios in consideration where interest rate could rise later this year. However, it was also possible a hike in rates might not come for another year or more.

Governor Philip Lowe of Reserve Bank of Australia (RBA) said the Australia had a unique opportunity to get unemployment rate down under 4% for the first time in 50 years and his office believes it was worth being patient on policy to achieve this economic objective.