- RBA’s Bullock: Need to be much more confident on inflation coming down to consider rate cut
Market news
RBA’s Bullock: Need to be much more confident on inflation coming down to consider rate cut
Reserve Bank of Australia (RBA) Governor Michele Bullock is speaking on the policy outlook at a press conference following the announcement of the March monetary policy decision on Tuesday.
Bullock is responding to questions from the media, as part of a new reporting format for the central bank.
Key quotes
We are making progress in fight against inflation.
Recent data suggest we are on right track.
Keeping keen eye on employment numbers.
Risks to outlook are finely balanced.
War isnt yet won on inflation.
Change statement language in response to data.
Labour market still slightly on tight side.
Board sees risks on both sides for policy.
Unemployment rate not only thing we look at.
Need to be much more confident on inflation coming down to consider rate cut.
Easing in energy prices is really positive for inflation outlook.
The board considers a range of possibilities on policy.
developing story ....
Market reaction
AUD/USD is holding lower ground near 0.6530 on the above comments, down 0.31% on the day.
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