Pause in interest rate rises is ‘closer’, RBA chief says a day after 10th straight increase

Philip Lowe delivers speech saying it will soon be time to stop and assess the impact previous rate increases have had

• Follow our Australia news live blog for the latest updates
• Get our morning and afternoon news emails, free app or daily news podcast

The Reserve Bank of Australia is “closer” to pausing its record series of interest rate rises, its governor, Philip Lowe, has told a conference in Sydney.

In his first public comments since Tuesday’s decision by the RBA board to lift its cash rate for a 10th straight meeting by another 25 basis points to 3.6%, Lowe said inflation was “still too high”, but Australia’s modest increases in wages so far have left the nation “in a better position than some other countries”.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup