MacroBusiness Access Subscriber Only Content at 10:00 am on July 27, 2021 | 25 comments In mid-June, RBA Governor Phil Lowe stated that the Council of Financial Regulators (CFR) – i.e. RBA, Treasury, APRA and ASIC – are actively examining macroprudential tools to curb the mortgage/property market in the event that credit accelerates, and that these tools would come into effect before the RBA considers lifting interest rates. In this month’s Monetary Policy Decision, Phil Lowe also stated that the cash rate will not be lifted “until inflation is sustainably within the 2 to 3 per cent range”. Lowe elaborated that “it is not enough for inflation to be forecast in this range”, rather