More again from Reserve Bank of Australia Governor Bullock, adding that there will be changes made to the RBA’s inflation forecasts but she isn’t sure if they will be ‘material’.
Bullock started the job on September 16 and has already become Humphrey Appleby.
Sheesh. The RBA only has 2 jobs, full employment and price stability.
- On jobs, the jobless rate is basically at a 50 year low. Kudos to the Bank to the extent they’ve helped with this.
- On prices, CPI is nearly double the upper end of the target band and rising. Thats material. Time to act on job #2 and, unfortunately, raise the cash rate again.
Earlier from da Gov:
- RBA Bullock says CPI was a little higher than expected, but about where we thought it’d be
- AUD/USD lower as RBA Gov. Bullock speaks
- RBA Gov. Bullock says still considering whether CPI was a “material” change to outlook
This article was written by Eamonn Sheridan at www.forexlive.com. Source