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Chris Fagan has blasted the Hawthorn racism investigation process as a farce, saying he is vindicated and would welcome the chance to test the bombshell claims in a public court.

The Brisbane Lions coach issued a strongly worded statement within minutes of AFL chief executive Gillon McLachlan announcing the independent inquiry into the allegations would end, following an agreement with six of the complainants.

But that only closes one chapter in the matter, with legal action now appearing certain and Hawthorn themselves set to come under AFL investigation for how they handled the initial claims.

After eight months of the inquiry making minimal progress, events moved quickly on Tuesday and the AFL called a snap media conference that evening to announce the end of the investigation.

Fagan, Alastair Clarkson and Jason Burt were cleared of breaching AFL rules during their time at Hawthorn.

Fagan said the leaking of the initial allegations to the media, the AFL investigation and further media leaks were a "travesty of justice".

While Fagan, Clarkson and Burt were not party to the agreement reached by six of the complainants, the AFL and the inquiry panel, the Lions coach said those matters are "fully justified".

"I have always categorically denied all the allegations against me. The allegations are false. I am completely innocent," he said.

"I am happy for any of my conduct and any documents to be aired publicly in a public court or proper public process and let someone impartial decide what is true and what is false.

"I have made no concessions. There are none to make ... I have done nothing wrong."

Fagan added he bore no ill will against the complainants.

"I am conscious this farce of a process cannot have been easy on those First Nations people who were complainants," he said.

"Those whom I knew, I hold no grudges against and hold only a wish that whatever pain they are suffering can be healed over time."

One question now is whether the AFL will take action against Hawthorn over their conduct.

McLachlan said the way Hawthorn handled the process when initial allegations were made put many parties involved in a "hugely vulnerable situation".

Former Hawthorn president Jeff Kennett questioned "on what basis" the Hawks could be charged by the AFL.

Kennett said he has written to the AFL Commission asking them to finalise the process "very quickly", saying he feared it could continue for an additional eight months.

"We did what we had to do," Kennett told 3AW on Wednesday.

"We got a complaint, we set in place a process to hear the stories from our Indigenous people.

"Once we got the report, we realised what was contained in it, we gave it to integrity.

"That is not acting against the interests of the AFL, that's acting in the interest."

Hawthorn president Andrew Gowers held a media conference on Wednesday morning, reiterating that the club welcomed the AFL's decision to end the inquiry.

Asked about the potential for AFL sanctions against Hawthorn, he said there are "a number of discussions" ongoing with the league.

"Of course we'd be extremely disappointed if this matter led to sanctions, including financial, but what I would say is we went into this process with the best of intentions. I don't think anybody is questioning that," he said.

Gowers added the Hawks went "by the book" by referring the report to the AFL integrity unit without speaking to Clarkson, Fagan and Burt first.

"It was also our expectation this would allow all parties to give their versions of events ... the leaking of that work had a significant impact. It did not allow for a fair and just process," he said.

The most serious of the accusations is that an Indigenous player was told to encourage his partner to have an abortion.

The Hawks saga started last year after former Indigenous star Cyril Rioli and his wife Shannyn Ah Sam-Rioli publicly claimed they were treated poorly during their time at the club.

That prompted a Hawthorn review of current and former Indigenous players, which led to the bombshell racism claims being leaked to the media last September.

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Eyes will be trained on the Reserve Bank of Australia governor during a parliamentary hearing ahead of the June cash rate call.

Philip Lowe will take questions at a Senate estimates hearing on a variety of matters but the pathway for interest rates will likely dominate discussions.

The central bank started lifting interest rates last year to tackle high inflation.

While past its peak, at seven per cent, inflation remains well above its two-to-three per cent target range.

From May 2022, the RBA lifted interest rates 10 times in a row before pausing in April.

The central bank board then opted to lift interest rates by another 25 basis points in May - a move that few were expecting after keeping rates on hold for just one month.

Assistant governor financial system Brad Jones will also front the hearing alongside the governor.

The RBA will also get an update on inflation via the Australian Bureau of Statistics monthly gauge.

Expectations are for a 6.4 per cent uptick in headline inflation in April, up from 6.3 per cent in March.

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The head of the Reserve Bank has issued a warning about weak productivity growth as it continues its fight against high inflation with interest rate hikes.

Philip Lowe told a parliamentary committee that wages growth, in isolation, was not the problem.

"Nominal wage growth has not been a source of inflation, I want to make it clear," he said.

"The problem is weak productivity growth."

Dr Lowe explained that without productivity growth, unit labour costs are high.

"Over the last three years, there has been no increase in the average output produced per hour worked in Australia - no increase for three years," Dr Lowe said.

"It's a problem for the country and it's a problem for the inflation outlook as well."

He said other countries were battling high unit labour costs, but in most places high wage growth, not low productivity growth, was the issue.

The governor said unit labour costs were growing at the rate of around 3.5 to four per cent and that made it hard to bring inflation back to around 2.5 per cent.

"And the best solution to this is a lift in productivity growth."

Dr Lowe said the reasons for weak productivity growth were complex and that the pandemic had a lot to do with it.

"Businesses were in survival mode rather than growth mode and investments slowed down and there were disruptions," he told a Senate estimates hearing.

"That's now behind us. So perhaps we'll now see productivity growth pick up."

He said if productivity growth picks back up to one per cent as it has in the past, wages growth as it's trending at the moment, will not throw the bank off its path to lower inflation.

"If there's no productivity growth, it's hard to have increasing wages."

The central bank started lifting interest rates last year to tackle high inflation.

While past its peak, at seven per cent, inflation remains well above its two-to-three per cent target range.

From May 2022, the RBA lifted interest rates 10 times in a row before pausing in April.

The central bank board then opted to lift interest rates by another 25 basis points in May - a move that few were expecting after keeping rates on hold for just one month.

The RBA will also get an update on inflation via the Australian Bureau of Statistics monthly gauge on Wednesday.

Expectations are for a 6.4 per cent uptick in headline inflation in April, up from 6.3 per cent in March.

© AAP 2023