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The RBA boss wants you to follow his path away from recession — even if that means more real wage cuts for workers
"We are not on a preset path," Reserve Bank Governor Philip Lowe observed on Tuesday, in the economic understatement of the week. Indeed, the path ahead looks no more predetermined than it has for the past two-and-a-half years. Since COVID came along, followed by the war in Ukraine, no official forecast has survived more than a few months. The outlook remains uncertain, but Lowe is trying his best to show the way — the path he would like everyone to stick to. The so-called plan The RBA Governor sees the inflation wave cresting at 7 per cent by year's end, before gently easing in the new year after a further ... (full story)