Central Banks
RBA No. 2 Says Don’t Doubt Resolve to Hike Rates Hard If Needed
- Deputy governor says further rate rises needed to cool prices
- Size and timing of future policy tightening to depend on data
Michele Bullock
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Australia’s central bank is “very committed” to containing inflation, Deputy Governor Michele Bullock told economists, even as the bank’s latest forecasts show headline consumer prices will remain above its 2-3% target through 2024.
“Don’t doubt our resolve that if we get some particular bad news on inflation, and if all the reasons we think we are different on wages turns out we’re not, then don’t doubt our resolve to increase interest rates quite quickly,” Bullock said in response to a question after a speech Wednesday evening.