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RBA gives strongest indication yet that interest rates are not on their way up -

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"Insidious"; that's how the Reserve Bank governor described the prospect of an indefinite period of low wages growth.

Philip Lowe says it's possible workers feel more insecure about their employment and are afraid to ask for a pay rise, leading to a broader economic funk.

Governor Lowe told a gathering in Sydney the bank is waiting for wages to rise before tightening the screws on borrowers, but economists say the bank could be waiting for some time.


Philip Lowe, Reserve Bank, governor
Michael Blythe, Commonwealth Bank, chief economist
Anna Bligh, Australian Bankers Association, chief executive