RBA’s Bullock Rules Out Further Rate Cuts, Sends Yields Soaring

Australia’s central bank Governor Michele Bullock called an end to a truncated easing cycle as policymakers gauge whether a pickup in inflation requires an extended interest-rate pause or a switch to tightening.

Bond yields spiked to a 13-month high after the governor on Tuesday said that price risks have “tilted to the upside” following the Reserve Bank board’s widely-expected decision to hold the cash rate at 3.6%.