Central Banks
RBA’s Bullock Says It’s ‘Premature’ to Think About Rate Cuts
- Doesn’t expect to be in a position to cut rates in near-term
- Bullock says would like RBA legislation to pass parliament
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Australia’s central bank remains some way off easing monetary policy, Governor Michele Bullock said, as inflation is proving persistent and will only return back to the target range late next year.
“The board remains vigilant to upside risks to inflation,” Bullock said in her opening statement to a parliamentary panel in Canberra on Friday. “It is premature to be thinking about rate cuts.”