SYDNEY, May 2 (Reuters) - Australia's top central banker
on Tuesday said policy makers were "dead serious" about getting
inflation under control and were still hopeful it could be done
without tipping the economy into recession.
Answering questions after a speech in Perth, Reserve Bank of
Australia (RBA) Governor Philip Lowe said the bank had raised
interest rates earlier in the day to ensure that current high
levels of inflation did not turn into a damaging price-wage
cycle.
Lowe also said the RBA's nine-member policy Board had a
"strong consensus" on the rate rise, which surprised many in
financial markets.
(Reporting by Wayne Cole; Editing by Andrew Heavens)
Messaging: wayne.cole.thomsonreuters.com@reuters.net))
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