The war on inflation isn't over yet says Philip Lowe

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.

Citizen Kanebridge Car Club has announced a major new partnership with Bullrush Rally, Australia’s leading automotive lifestyle community, unlocking a powerful series of exclusive driving and motorsport experiences for its private members.

The collaboration will give Citizen Kanebridge members privileged access to Bullrush Rally’s coveted calendar, including supercar rallies, private track days, curated drive events and premium Formula 1 hospitality.

It marks a significant expansion of the club’s automotive offering and reinforces its position as a private members’ platform built around access, connection and exceptional experiences.

“This partnership with Bullrush Rally represents exactly the type of exclusive opportunities Citizen Kanebridge was created to deliver,” Marwan Rahme, CEO of Kanebridge Media, said.

“Bullrush has built an extraordinary community around automotive passion and lifestyle, and we’re incredibly excited to give our members access to these experiences.

“It’s about creating unforgettable moments and bringing like-minded people together through shared passions.”

The first experience available through the partnership will see Citizen Kanebridge Car Club members offered access to the Bullrush Rally Suite at the Formula 1 Qatar Airways Australian Grand Prix in Melbourne on Sunday, March 8.

Positioned on Walker Straight with a private trackside balcony, the Bullrush Rally Suite offers prime views of the main straight alongside gourmet dining, premium beverages, live entertainment and exclusive hospitality.

Guests will also have the opportunity to meet Günther Steiner, the former Haas Formula One Team Principal and one of the sport’s most recognisable figures, following his starring role in Netflix’s global hit series Drive to Survive.

Known for his candid leadership style and pivotal role in establishing the Haas team in Formula 1, Steiner has become one of the most influential and charismatic personalities in modern motorsport.

Founded in 2014, Bullrush Rally has grown into one of Australia’s most respected automotive communities, bringing together successful entrepreneurs, executives and enthusiasts through curated rallies, track days and high-end lifestyle events.

Beyond its luxury experiences, the organisation has raised more than $250,000 for charities supporting sick children, mental health initiatives and medical research across Australia.

Through the new partnership, Citizen Kanebridge Car Club members will gain priority access to Bullrush’s flagship events, including multi-day rallies, Formula 1 hospitality suites, exclusive track days and private member-only gatherings.

The collaboration represents a significant evolution of Citizen Kanebridge’s automotive offering, positioning the club at the centre of Australia’s most exclusive driving and motorsport experiences, while continuing to deliver the access and opportunities that define the private members’ platform.

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

The partnership gives Citizen Kanebridge members priority access to elite rallies, track days and Formula 1 hospitality, beginning with the Australian Grand Prix.