The Reserve Bank Governor has warned Australians they need to be prepared for substantial interest rate rises over the rest of this year, conceding he's not sure how high they might go
Philip Lowe said he expected inflation could hit 7 per cent by Christmas and predicted it wouldn't fall until the first quarter of next year.
Suspect Mr Lowe is very aware where interest rates have to go to tame the 7% prediction. If not the suspected rate will be much higher!
