RBA’s chief unsure if more rate hikes needed to tame inflation
SYDNEY, July 28 (Reuters) - Australia’s central bank chief on Tuesday warned that underlying inflation remained too high and a further slowdown in domestic demand may be required to tame prices, saying policymakers were prepared to raise interest rates again if needed. In a speech in Sydney, Reserve Bank of Australia Governor Michele Bullock said a key uncertainty was whether the three rate hikes already delivered this year were enough to return inflation to its 2%-3% target band.
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SYDNEY, July 28 (Reuters) - Australia’s central bank chief on Tuesday warned that underlying inflation remained too high and a further slowdown in domestic demand may be required to tame prices, saying policymakers were prepared to raise interest rates again if needed. In a speech in Sydney, Reserve Bank of Australia Governor Michele Bullock said a key uncertainty was whether the three rate hikes already delivered this year were enough to return inflation to its 2%-3% target band. While the full impact of those increases has yet to be felt across the economy, Bullock said underlying inflation was still too high and could rise further as higher oil prices linked to the Iran war feed through to broader costs. "This does mean that some further easing in the growth of demand is likely to be required if we are to bring inflation back down sustainably to target," said Bullock, adding that the labour market also needed to cool further.
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- SYDNEY, July 28 (Reuters) - Australia’s central bank chief on Tuesday warned that underlying inflation remained too high and a further slowdown in domestic demand may be required to tame prices, saying policymakers were prepared to raise interest rates again if needed. In a speech in Sydney, Reserve Bank of Australia Governor Michele Bullock said a key uncertainty was whether the three rate hikes already delivered this year were enough to return inflation to its 2%-3% target band.
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RBA’s chief unsure if more rate hikes needed to tame inflation
Sources1TypeCoverageInvesting.com · Economy