RBA Governor Bullock: Don’t expect to be back in 2-3% target range until end of 2025

August 8, 2024
-FCHFX

August 08, 2024 at 03:41AM
Reserve Bank of Australia Governor Bullock, in a speech in her home town of Armidale, NSW:

Vigilant to inflation risks, will not hesitate to hike if needed.

Repeats, board judged current rates still meet its inflation mandate.

Don’t expect to be back in 2–3% target range until end of 2025.

Won’t hesitate to raise cash rate if needed.

Investment in renewable energy in regions should bring significant economic benefits.

Renewables needed to mitigate the risks posed by climate change.

Increasing volatility in weather, rising temperatures pose challenges for farmers.

Bullock was hawkish earlier in the week:

RBA leaves cash rate unchanged at 4.35%, as expected

RBA governor Bullock: Inflation progress has been slow for a year now

RBA governor Bullock: A rate cut is not on the agenda in the near-term

The response to the RBA meeting yesterday is a 25bp rate cut priced for December 2024

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

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