Michele Bullock has used her first speech as RBA governor to reiterate the bank's approach to the cash rate.
In an address to the Commonwealth Bank Global Markets Conference tonight, Bullock reiterated the Reserve Bank's commitment to bringing inflation back to its target band of 2-3 per cent "within a reasonable timeframe".
Michele Bullock has used her first speech as RBA governor to warn Australians the central bank won't hesitate to hike interest rates once again. "At the same time, the board is mindful that growth in demand and the rate of inflation have been moderating, and that there are long lags in the transmission of monetary policy."
"The board will receive several pieces of information before its next meeting that will be important for this assessment," Bullock said."We will reconsider the outlook for the economy in light of incoming information and will have opportunities to explain our assessment in the media release and Statement on Monetary Policy that will follow the November meeting."
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX to fall: RBA’s Michele Bullock has interest rate dilemma as Middle East war flaresAustralian shares are poised to fall 0.9 per cent at the return to trading on Monday, after suffering their worst week in four weeks in response to the Israel-Hamas conflict.
Read more »
RBA governor Michele Bullock squares up for inflation fightIt took only two minutes for Michele Bullock to refer back to Philip Lowe’s warning about high inflation. She is staying the course.
Read more »
Michele Bullock CBA speech: Renters better off despite cost-of-living squeezeStrong income growth has shielded households without a mortgage from the worst of the cost-of-living crunch, Reserve Bank governor Michele Bullock says.
Read more »
Michele Bullock rules out linking interest rates to employment in first major speechNew RBA governor says she’s working with treasury to ‘modernise and clarify’ the bank’s objectives with the focus still on inflation
Read more »
Michele Bullock says RBA 'will not hesitate' to increase rates if inflation takes longer than expected to return to targetReserve Bank of Australia governor Michele Bullock says the central bank 'will not hesitate' to increase the cash rate over fears inflation could take longer to return to target than its current 'late 2025' forecast.
Read more »
Live updates: Australian share market to drop at open, Wall Street ended mixedA mixed session on Wall Street is likely to send Australian stocks lower, while RBA governor Michele Bullock will deliver her first prepared speech tonight. Follow the latest updates in our live blog.
Read more »