RBA governor says Australia’s inflation too high, suggesting September rate hike – video

Michele Bullock, the Reserve Bank governor, says ‘upside risks to inflation appear to be materialising’, setting the central bank on course to deliver a fourth interest rate hike later this month. ‘Inflation is too high,’ Bullock told a parliamentary economics committee. The governor said at the RBA board’s last meeting they were worried that inflation would come in hotter than hoped, and it looked like that was happening, despite the slowing economy.

The RBA board will meet on 28-29 September, where the ‘key question’ will be whether the three rate hikes earlier this year will be enough to bring inflation back to the 2.5% target ‘in a reasonable time’

Read the original report at The Guardian.