The Reserve Bank board is no longer explicitly warning further rate rises could be necessary to keep inflation in check but has not ruled the possibility out completely after holding interest rates at 4.35 per cent.
“Returning inflation to target within a reasonable timeframe remains the board’s highest priority,” the board said on Tuesday.“While recent data indicate that inflation is easing, it remains high. The board expects that it will be some time yet before inflation is sustainably in the target range.”
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