Australia's Central Bank to 'Do What's Necessary' to Hit Inflation Target

The transcript discusses the Reserve Bank's hawkish stance on interest rates, with expectations of a 50 basis point increase in the coming months due to inflation concerns. Governor Phil Low's rare interview highlighted the need to control inflation, with predictions of it decreasing in 2023. Economists are leaning towards a hawkish outlook, anticipating back-to-back rate hikes. Despite high household debt, the Governor believes the Australian economy is resilient enough to handle these changes, citing strong household savings and loan repayment buffers.

What was the significance of the interview with Governor Lowe mentioned in the text?

What are the implications of the potential interest rate hikes on the Australian economy?