RBA’s Hauser: Still have work to do to reduce inflation, which remains far too high
Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said that the central bank still has work to do to reduce inflation, which remains far too high, Reuters reported on Wednesday.
Key quotes
Still have work to do to reduce inflation, which remains far too high.
Timely policy steps to reduce inflation could have smaller unemployment costs.
Took pro-active policy action to reduce excessive capacity pressures with rate hikes.
Lower global oil prices would be welcome development, full conflict resolution not yet assured.
Have been important economic developments since may, not least prospect of US-Iran deal.
Speech covers nonlinearity and steepness of the Phillips curve.
Market reaction
At the time of writing, AUD/USD is holding higher ground near 0.6910, losing 0.10% on the day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
3 Altcoins Poised for a Major Breakout Before October — XLM, SUI, SOL
XRP surges 80% in 24-hour trading volume, net ETF inflows hit $19 million
10-year US Treasury yield breaks above 5%! "Prophet" warns: The sell-off isn’t over yet
Steven Barrow, Head of G10 Strategy at Standard Bank, who was the first to make a 5% forecast this February, has raised his year-end prediction for the 10-year U.S. Treasury yield to 5.2%, expecting it to further rise to 5.3% in Q1 2027. He stated that supply chain pressures, climate change, and restrictions on labor supply due to U.S. immigration policy are becoming stronger than ever before. Meanwhile, the U.S. Dollar Index saw a single-day gain of up to 0.6%, potentially marking its best daily performance since June 17.
Baldwin Agrees to Go Private in $7.7 Billion Deal Involving Dell CEO's Family Investment Firm
Crypto prices
More
