Head of Australia’s sovereign wealth fund says still a way to go to get inflation down

Comments from Chair of Australia’s sovereign wealth fund, Peter Costello, ahead of the Reserve Bank of Australia meeting in a couple of weeks (February 5 and 6):

  • are signs that inflation in Australia is beginning to
  • remains a long way to go to get prices back
    into the central bank’s target band
  • “Although inflation has fallen from its peak, it is still
    well outside the target range of 2% to 3%,”
  • “Whilst markets rebounded on an expectation that rates could
    be lower this year, there is still a way to go.”

Costello was Australia’s Treasurer from 1996 to 2007.

While you’re here, a reminder of significant changes to the Reserve Bank of Australia meeting schedule this year.

This article was written by Eamonn Sheridan at www.forexlive.com. Source