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RBA’s Bullock: Policy is not restrictive as yet, looking at opportunities to slow hikes at some point

Reserve Bank of Australia (RBA) Deputy Governor Deputy Governor Michele Bullock is speaking about the monetary policy and economic outlook in his Q&A session, following his speech at an event hosted by Bloomberg, in Sydney. Key quotes Will be looking at monthly CPI, but will be a lot of noise in figures. Monthly CPI numbers unlikely…

Reserve Bank of Australia (RBA) Deputy Governor Deputy Governor Michele Bullock is speaking about the monetary policy and economic outlook in his Q&A session, following his speech at an event hosted by Bloomberg, in Sydney.

Key quotes

Will be looking at monthly CPI, but will be a lot of noise in figures.

Monthly CPI numbers unlikely to have implications for the October policy meeting.

Policy is not restrictive as yet, looking at opportunities to slow hikes at some point.

Australia is in a better position on inflation than some other countries.

Concerned about the health of China’s economy, zero covid policy and property market.

Outlook for global economy is quite worrying.

Market reaction

AUD/USD is holding the lower ground near 0.6680 on the dovish commentary from the RBA official. The spot is down 0.10% so far.

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