Reserve Bank Governor Michele Bullock has dampened hopes of interest rate relief in the short-term, revealing 'a cut was not considered' during the bank's latest meeting.
Relief for millions of households out of sight as Reserve Bank Governor Michele Bullock says 'a cut was not considered'
"The recent data have been mixed, but overall I think they reinforce the need to remain vigilant to the upside risks to inflation," she said. In its decision, the RBA noted inflation had fallen"substantially" since its peak in 2022, but Governor Bullock told media she remained conscious of the fact prices were now moderating more slowly.
"The ‘cost of living relief’ policies that have been implemented by State and Federal governments are likely to artificially lower the measured rate of inflation," he said in a statement.
Brendan Rynne Rents Insurance Costs Michele Bullock RBA ABS Cost Of Living Inflation Australian Bureau Of Statistics Budget Services Inflation KPMG Interest Rates
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