RBA's Bullock Still Prepared to Do What's Needed to Cool Inflation
Dow Jones11-03 13:29
0529 GMT - RBA Gov. Michele Bullock has delivered an evenhanded press conference, giving little away on the outlook for interest rates. Still, she did say that inflation expectations remain skewed to the upside and that the bank will do what is needed to get inflation down. The RBA revised up its forecasts for inflation in the years ahead and a return to target is now further away than it was at the start of the year. Nevertheless, the interest rate cycle does feel more mature now, so the peak in rates can't be far away.
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