RBA governor says inflation ‘increasingly homegrown’, suggesting interest rates will remain high
by Peter Hannam Economics correspondent from World news | The Guardian on (#6GJK3)
Michele Bullock warns prices are rising strongly for the majority of the goods and services we all consume'
The Reserve Bank is braced for a challenging" year ahead as it confronts homegrown price pressures, its new governor Michele Bullock says, indicating interest rates are likely to remain elevated for a while even if they don't rise further.
In a speech on monetary policy fit for the future" on Wednesday, Bullock told a Sydney gathering of economists that the RBA sought to tread a narrow path" of bringing inflation back to its target 2%-3% range while keeping as many people as possible in work.
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