RBA: You have to trust much more that inflation will fall to consider a rate cut – Michele Bullock

Reserve Bank of Australia (RBA) Governor Michele Bullock has spoken about the outlook for monetary policy at a press conference following the announcement of the March monetary policy decision on Tuesday.

Bullock answers questions from the media, within the framework of a new central bank information format.

Featured Statements

We are making progress in the fight against inflation.

The latest data suggests that We are on the good way.

We are very attentive to employment figures.

Risks to the outlook are well balanced.

The war against inflation is not yet won.

Changes in the statement are in response to the data.

The labor market remains slightly tense.

Council sees risks on both sides of monetary policy.

The unemployment rate is not the only thing we take into account.

On the one hand, inflation remains above target.

Services inflation remains high.

On the other hand, we are aware that consumption is slowing.

And the rigidity of labor market conditions is also easing.

We cannot rule out anything.

We have to trust much more that inflation will fall to consider lowering rates.

The decline in energy prices is very positive for the inflation outlook.

The Council considers a range of political possibilities.

We respond to data as it appears.

The non-accelerating inflation rate of unemployment (NAIRU) could be between 4.0% and 4.5%, but it is uncertain.

Source: Fx Street

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