Interest rates not to rise for at least 3 years – RBA Governor

The governor of the RBA announced that the RBA would not be raising the cash rate for at least 3 years.

“We do not expect to be increasing the cash rate for at least three years,” he advised in a speech dubbed “The Recovery”

He is hoping to get inflation back between the RBA guidelines of between 2 – 3%. “”The Board will not be increasing the cash rate until actual inflation is sustainably within the target range.”