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RBA governor says inflation ‘increasingly homegrown’, suggesting interest rates will remain high

The Guardian on The Guardian



Michele Bullock warns prices are ‘rising strongly for the majority of the goods and services we all consume’Get our morning and afternoon news emails, free app or daily news podcastThe Reserve Bank is braced for a “challenging” year ahead as it confronts homegrown price pressures, its new governor Michele Bullock says, indicating interest rates are likely to remain elevated for a while even if they don’t rise further.In a speech on “monetary policy fit for the future” on Wednesday, Bullock told a Sydney gathering of economists that the RBA sought to tread a “narrow path” of bringing inflation back to its target 2%-3% range while keeping as many people as possible in work.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…



Source link : https://www.theguardian.com/australia-news/2023/nov/22/rba-governor-michele-bullock-inflation-interest-rates-speech

Author : Peter Hannam Economics correspondent

Publish date : 2023-11-22 08:35:17

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Tags : The Guardian

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