SYDNEY—The Reserve Bank of Australia will do “what is necessary” to keep inflation within its target of 2-3% over time, Gov. Philip Lowe said, in a sign that some hawkishness might be creeping into the central bank’s narrative on interest rates.
However, in a speech to the National Press Club on Wednesday, Mr. Lowe offered no hint that an interest rate rise was imminent. He said that the RBA had time to sift trends in supply and demand in the economy, while waiting for stronger wages growth.
“I…
