The Deputy Governor of the Reserve Bank of Australia (RBA), Michele Bullocksaid Wednesday that “we have already hiked rates aggressively.”
Featured Statements
We could make the economy suffer to lower inflation, but it would have costs.
We believe that inflation can be lowered over time and maintain the gains made in terms of employment.
As for wages, it seems to be accepted that the rise in inflation will be temporary.
A “scorched earth” policy could be applied to reduce inflation, but it is not the best result.
We would raise rates faster if we thought inflation was not coming down as expected.
market reaction
AUDUSD is testing lows near 0.6475 following dovish comments from the RBA official, shedding 0.37% on the day.
Source: Fx Street
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