Australia Will Not Fall into Recession: Reserve Bank Governor

Governor of the Reserve Bank of Australia Philip Lowe speaks during a press conference in Sydney, Australia, on May 3, 2022. Louie Douvis - Pool/Getty Images

Australian central bank governor Philip Lowe has told the public that it is unlikely for Australia to experience a recession due to rising interest rates.

He also does not expect the Reserve Bank of Australia (RBA) to follow the U.S. Federal Reserve in raising the cash rate by 0.75 percent in one go to combat inflation.