RBA's Lowe: Rate outlook more evenly balanced, hike next year may be appropriate

While the probability of interest rates going up or down is broadly balanced, a hike next year may be appropriate, Reserve Bank of Australia Governor Philip Lowe said on Friday while testifying before the House of Representatives' Standing Committee on Economics, in Sydney.

The central bank head shifted to a neutral policy outlook on Feb. 6 by putting rate cuts back on the table.

Key quotes

Would be concerned if inflation stays below 2-3% band.

Unlikely rates would go up this year.

Don't have a crystal ball on rates.