Lates News

RBA Governor Brock: Believes we are in a favorable position in terms of policy and can respond when necessary. A series of indicators indicate tight labor market conditions. A large part of the unexpected increase in inflation is specific to certain industries and is likely to ease. The RBA Committee is uncertain whether financial conditions are sufficiently tight to bring inflation back to the midpoint of the target range within a reasonable time. The situation in the Middle East reminds people of the geopolitical uncertainty, supply shocks may exacerbate inflation pressures, but long-term shocks may also have adverse effects on global economic activity. The committee remains focused on bringing inflation back to target, and economic data since the rate hike in February support this move.