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MNI (Sydney)

Reserve Bank of Australia Governor Philip Lowe said a jump in energy prices as a result of Moscow's invasion of Ukraine will be contained in its impact on inflation and will “wash through” without having a long-term effect.

He said he would join a call later on Friday with other central bank leaders to discuss the Ukraine crisis, but said he did not believe a coordinated response was required at this stage.

Speaking at a banking conference in Sydney on Friday, Lowe also said that he was aware of market expectations of an RBA rate rise in the near future but these would not be a factor in any decision on when to raise official rates from the record low of 0.10%, see: MNI BRIEF: There's A Risk In RBA Raising Rates Early - Lowe.

MNI Sydney Bureau | +61-405-322-399 |
MNI Sydney Bureau | +61-405-322-399 |

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