'The board will not hesitate': RBA governor issues interest rate rise warning

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."

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