‘Total boomer fantasy land’: Union boss Sally McManus criticises Reserve Bank of Australia Governor Phillip Lowe over wage growth fears

ACTU Secretary Sally McManus slammed the Reserve Bank of Australia governor for being “out of touch with reality” for believing pay rises could lead to a 1970s -style wage-price spiral.

Union boss Sally McManus has criticised the Reserve Bank of Australia governor for living in a “boomer fantasy land” after he warned wage growth could prolong high inflation. 

RBA governor Phillip Lowe cautioned on Tuesday pay rises should be capped at 3.5 per cent, which is half of the 7 per cent inflation forecast for the end of this year, to avoid a 1970s -style wage-price spiral.


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