Reserve Bank Governor Michele Bullock has cautioned Australia still has significant work to do before inflation returns to target, also expressing hope the nation"doesn't have to stomach further tightening".Reserve Bank Governor Michele Bullock has cautioned Australia could be set for a"bumpy" ride back to target inflation, despite the RBA electing to hold interest rates steady following its May meeting.
"Over the past six months we've seen lots of ups and downs in the data, things are pretty bumpy," she explained. Reserve Bank Governor Michele Bullock has cautioned Australia could be set for a"bumpy" ride back to target inflation, despite the RBA electing to hold interest rates steady following its May meeting. Picture: NCA NewsWire/Nikki Short
Driving the lift in prices is services inflation and continued resilience in the labour market, while increasing fuel prices are also adding pressure to the economy.
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