‘Better to Do Too Much Than Not Enough’: RBA Governor Rationalises Interest Rate Hikes

RBA Governor Philip Lowe at the Standing Committee on Economics at Parliament House on February 05, 2021, in Canberra, Australia. Sam Mooy/Getty Images

The governor of the Reserve Bank of Australia (RBA) has apologised to Australians for higher interest rates as a result of the inflationary effects of COVID-19 stimulus but noted the package was a risk that was worth taking.

Speaking at a Senate Estimates hearing in Canberra on Nov. 28, RBA Governor Philip Lowe said he was sorry the financial institution had not been clearer about the potential risks.