RBA governor Bullock: We expect inflation to increase further in the near-term
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Inflation is still too high Will do what is considered necessary to achieve our mandate Having raised the cash rate three times, monetary policy is well placed to respond to developments We've already seen some signs that this tightening is starting to work Although, it will take
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4 itemsRBA governor Bullock: We must get on top of inflation now before it gets away from us
The desk interprets RBA Governor Bullock's recent comments as a clear signal that the central bank is prioritizing inflation control amidst external shocks. Per the full note [source], Bullock emphasized the need for vigilance against inflation expectations, suggesting that if second-round effects from current geopolitical tensions manifest, even higher rates may be necessary. This aligns with our view that the RBA's current cash rate, described as somewhat restrictive, leaves room for further adjustments depending on economic developments. The consensus among analysts suggests a cautious approach, with a focus on upcoming data releases to gauge the inflation trajectory.
RBA governor Bullock reaffirms that the central bank will raise interest rates again if needed
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