Reserve Bank of Australia Governor Philip Lowe has admitted that “it’s unclear how far interest rates will need to go up” as inflation worsens.

Governor Lowe has come under fire for his recent predictions, assuring Aussies the cash rate won’t rise until 2024.

The Reserve Bank has now lifted interest rates twice in two months.

“A lot of Australians have been misled by that advice,” Ben Fordham said.

“It’s an embarrassing error that could see people lose their homes.”

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