RBA holds policy and says inflation is ‘too high’
Australian governor hawkish amid concerns of embedded inflation expectations
The Reserve Bank of Australia held its policy rate today (June 16) while its governor struck a hawkish tone, saying inflation was “too high” and that the bank had not ruled out further tightening.
Michele Bullock said after the decision that the RBA would maintain rates at 4.35%, following 75 basis points worth of tightening since the start of the year. The governor said these increases had been “tough” for mortgage holders but remained necessary to reduce inflation.
According to a statement, the
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