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Philip Lowe, Governor of the Reserve Bank of Australia,  is delivering his remarks at the ECB’s  panel  titled ‘Price and wage setting in advanced economies.’

Key quotes (via Reuters)

  • Global factors are at work in inflation situation.
  • There is a perception that we just need to accept that inflation is going to be low for a while.
  • Australia is hoping to extend the non-recession streak.
  • Need to be patient as long as the labor market is improving.