Bullock questions whether RBA has tightened enough
Governor says Australia’s economy is cooling, but more hikes will come if they are deemed necessary
The governor of the Reserve Bank of Australia has said rate hikes earlier this year eased demand, though it was unclear whether they would be enough to return inflation to the bank’s target range.
In a speech today (July 28), Michele Bullock said the Australian economy had “gradually and broadly” adjusted to the 75 basis points of tightening implemented since February, though the full effects would take some time to materialise. She said inflation had already been too high before the start of the
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