Australian governor says productivity rises needed to boost incomes
The Reserve Bank of Australia governor told lawmakers today (February 22) that productivity must increase to bolster long-term household incomes.
In his semi-annual appearance before the House of Representatives economics committee, Phillip Lowe noted that household disposable income has grown at roughly 2.75% since 2016, down from an average of 6% over the preceding decade.
“Households have responded to this extended period of weaker income growth by progressively downgrading their spending
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