"The RBA's decision to raise the cash rate further and to continue to flag its expectations of further increases, is sobering," Innes Willox, Chief Executive of the national employer association Ai Group said today.
"There are strong signs the desired slowdown in activity is beginning to take effect and as we get further along the path of monetary tightening, the risk of overdoing the rate rises clearly intensifies.
"It is critical now that businesses, governments and employees exercise moderation in price setting and wages negotiations and avoid fuelling the inflation and inflation expectations that will only increase the likelihood of further increases in interest rates," Mr Willox said.
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