Reserve Bank governor Michele Bullock is using verbal communication as a secondary tool to manage inflation, alongside interest rate hikes. Despite holding rates steady, Bullock emphasized the possibility of future increases if necessary, though market expectations suggest a pause or even cuts.
The Reserve Bank of Australia held its cash rate at 4.35%, ending a streak of hikes. Governor Michele Bullock warned that further increases are possible if inflation doesn't fall to the 2-3% target, despite a potential Middle East ceasefire easing oil prices.
The Reserve Bank of Australia (RBA) will re-tender its whistleblower hotline service contract with KPMG due to recent scandals involving the firm. Governor Michele Bullock confirmed the decision, stating the RBA does not have a direct relationship with KPMG for audits, which are handled by the ANAO. The Greens are calling for a ban on KPMG from government contracts.
Reserve Bank of Australia Governor Michele Bullock stated the Middle East conflict creates significant global and domestic inflation uncertainty, potentially impacting growth. She expressed confidence that stagflation and wage-price spirals are unlikely in Australia.
Reserve Bank of Australia raises cash rate for third consecutive meeting as governor says increases ‘are not going to do anything for inflation’ in next six monthsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastUse our loan calculator to see how rate hikes could affect youThe Reserve Bank governor has said surging oil prices in the wake of the US-Israel war on Iran have made Australians poorer with “no way out”, after handing down an interest rate rise and warning more hikes could be needed.A week out from the federal budget, Michele Bullock also warned inflation would get worse if governments’ cost-of-living relief was not “targeting where it’s most needed”. Continue reading...
The RBA lifts rates by 0.25 basis points to 4.35 per cent, which fully unwinds last year's rate cuts. But governor Michele Bullock says the rate rises will not stop higher inflation heading Australia's way from the Iran war.
