Reserve Bank of Australia Governor Bullock is appearing in parliament, before the Senate Economics Legislation Committee.
- She says the Bank is still thinking about if yesterday’s inflation data showed a “material” increase.
The RBA must be the only people in Australia still wondering about the ‘material’ question. Every analyst take I have seen have said it was and that it’ll be addressed with a 25 bp rate hike in November. I concur.
More:
- Would not like to say if CPI makes a rate rise more likely
Bullock is squandering an opportunity to land some blows against inflation prior to the Bank’s meeting in a couple of weeks. New governor, but same old same old muddled messaging and complacency from the Bank.
Interest rate markets are trimming pricing for a November rate hike in response.
Earlier from Bullock:
- 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
This article was written by Eamonn Sheridan at www.forexlive.com. Source