RBA interest rates: Michele Bullock speech ‘assertive’ and ‘transparent’ according to economists

Economists described Reserve Bank governor Michele Bullock’s communication style as “transparent” and “assertive” in her first speech on monetary policy since succeeding Philip Lowe in the top job.

“I think she’s making it quite clear that she’s laid out her inflation fighting credentials, and that inflation still remains the number one job of a central bank andMr Hogan noted Ms Bullock’s “strong desire to explain clearly what the RBA are doing” to keep inflation on a correction course to the 2 per cent to 3 per cent target.Morgans chief economist Michael Knox and AMP’s chief economist Shane Oliver agreed Ms Bullock’s plain-spoken style conveyed necessary clarity.

She told the audience the pressure facing indebted households was much greater for highly leveraged borrowers than those with modest levels of debt. Dr Oliver thought Ms Bullock did a “very good job of explaining the trade-offs between the two competing objectives for the Reserve Bank and that’s full-employment and low inflation”.“She might prove more transparent than has been if you’ve read her material,” he said.

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