The war on inflation isn’t over yet says Philip Lowe
The Reserve Bank Governor made the comments ahead of next Tuesday’s board meeting to decide on interest rates
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It’s too early to declare that inflation is under control, the head of the Reserve Bank of Australia said today.
Governor Philip Lowe has been giving evidence at the Senate estimate hearing in Canberra this morning, saying that 11 interest rate rises in just over a year were having a positive impact on inflation.
“We’ve increased interest rates, a lot of monetary policy is restrictive, and it’s working,” he said.
However, he stopped short of saying that the war to drive down inflation to more acceptable levels had been won.
“Whether we need to increase rates further, both depending on what happens with unit labour costs, what happens with the global economy, with inflation expectations, consumer spending, so they’re the variables that we’re looking at,” Mr Lowe said.
The RBA is due to meet next Tuesday for the last time this financial year. Three of the top four banks are predicting that rates have already peaked at 3.85 percent, with ANZ the only major lender to suggest a rise to 4.1 percent is likely before the end of the year.
The RBA has been under pressure to end further rises amid concerns that the steep rise in rates – the greatest monetary tightening program since the 1980s – could push Australia into a recession.
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King Living has unveiled a modular version of its Aura Sofa, bringing greater flexibility to the sculptural design collection as demand grows for furniture that can adapt to changing lifestyles.
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Australian furniture brand King Living has expanded its Aura Collection with the launch of a new modular sofa designed to blend contemporary aesthetics with adaptable living.
The Aura Sofa builds on the success of the Aura Island range, first introduced in 2023, which included indoor and outdoor sofas as well as fixed and swivel occasional chairs.
The latest evolution introduces modular functionality to the collection, allowing homeowners to configure the sofa to suit a variety of spaces and uses.
As living spaces continue to evolve, particularly in urban environments where flexibility is increasingly valued, furniture designers are placing greater emphasis on products that can adapt over time.
King Living says the new Aura Sofa has been developed with this trend in mind, enabling customers to create corner, L-shaped or U-shaped layouts, while also allowing additional modules to be added as needs change.
King Living founder David King said the original Aura concept began as an exploration of sculptural design before being reimagined as a modular system.
“Aura began as an exploration of sculptural form. Now, we’ve brought modularity into that design language, giving the freedom to reimagine your space with a modular design made for flexibility,” he said.
The collection’s defining feature remains its soft, flowing silhouette, with curved forms replacing traditional angular sofa designs.
The company describes the sofa as a response to changing lifestyles, where living rooms increasingly serve multiple purposes, from entertaining guests and family gatherings to quiet reading corners and work-from-home spaces.
Its rounded profile and minimalist aesthetic are intended to enhance the flow of contemporary interiors while maximising available space. According to the company, the design is equally suited to compact apartments and larger open-plan homes.
“Today, living space is both a luxury and a constraint. Aura is our response, a purposeful design that proves when intention and fluidity converge, the result can feel both expansive and refined,” King said.
Beyond aesthetics, the new sofa incorporates several engineering features synonymous with the King Living brand.
These include the company’s Postureflex steel suspension system, extra-high pocket springs and its signature steel frame, which is backed by a 25-year warranty. The company says the design has been engineered to deliver long-term comfort and durability.
Sustainability has also been a focus of the design. Each module features a removable cover that can be professionally cleaned, repaired or replaced individually, reducing the need to replace an entire sofa and potentially extending the product’s lifespan.
The Aura Sofa is available made to order in a range of premium fabrics and European leathers, allowing customers to tailor the piece to different interior styles and colour palettes.
Designed, manufactured and sold exclusively by King Living, the Aura Sofa launched in showrooms and online early this month, marking the latest addition to the Australian company’s growing portfolio of modular furniture designs.
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