The Reserve Bank of Australia (RBA) Governor Michele Bullockdiscusses the recent monetary policy decision at the Annual Dinner hosted by the Australian Business Economists (ABE) in Sydney on Wednesday.
Featured Statements
Our inflation challenge is increasingly internal, driven by demand.
A “more substantial” tightening of monetary policy is the appropriate response to demand-driven inflation.
Supply chain inflation is moderating and still has some way to go.
Australian inflation is widespread, the trimmed average is still too high.
Prices are rising sharply for most goods and services that we all consume.
Service costs rise sharply as demand exceeds supply.
The RBA’s contacts with businesses indicate that internal cost pressures are persistent.
Capacity utilization is very high and the labor market is strained.
It will take time to bring demand-driven inflation back to the 2-3% target.
An attempt is made to cool demand while maintaining employment growth.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
