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RBA Will Struggle With Jobs Goal If CPI Stays High, Bullock Says
Australia’s central bank will struggle to maintain low unemployment if inflation stays above its target level “indefinitely,” Governor Michele Bullock said, in a warning to households and firms that interest-rate relief is still some way off. In a speech in Sydney, the Reserve Bank chief reiterated that the rate-setting board is alert to upside risks to inflation and that monetary policy will need to remain “sufficiently restrictive” until CPI moves sustainably toward its 2-3% target. Australia’s core inflation has remained well above that band since 2021 and while it has come off a peak, at 3.9% it’s ... (full story)
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- Posted: Sep 5, 2024 12:59am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,433
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