RBA governor Philip Lowe says 'the worst is over' in final parliament grilling

From 9news.com.au

Outgoing Reserve Bank of Australia governor Philip Lowe has confirmed a "modest" rise in joblessness will be part of bringing inflation down. Lowe, who steps down from his role in September, faced a parliament grilling for the final time today. His deputy, Michele Bullock, who will assume the governorship, said earlier this year the unemployment rate would need to rise to 4.5 per cent before inflation returned to its target rate. Today, Lowe implicitly backed her stance. "It's unpopular," he said. "But we will do what's necessary, and we hope the community understand that." Speaking to parliament, he said ... (full story)