RBA’s Bullock says talk of rate cuts is ‘premature’
Governor says keeping down inflation helps support bank’s objective of maximising employment
The governor of Australia’s central bank said today (September 5) that reducing inflation remained its “highest priority” and that any talk of rate cuts was therefore “premature”.
Speaking at a fundraising event, Michele Bullock emphasised that prices had stayed above average levels, driven by sticky inflation in the housing market and service sector.
According to official statistics, year-on-year inflation fell to 3.8% in Q2. Although this was down significantly from the 7.8% recorded in Q4 2022
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