Australia's central bank to hike rates 'if it needs to' - Breaking The News

Australia's central bank to hike rates 'if it needs to'

8 August

1 min read

EPA-EFE/DAN HIMBRECHTS

Reserve Bank of Australia (RBA) Governor Michele Bullock said on Thursday that the bank "won't hesitate" to hike interest rates if needed, seeing as how "the alternative of persistently high inflation hurts everyone."

Speaking from Armidale, New South Wales, Bullock stated that the bank's board "remains vigilant with respect to upside risks on inflation and will not hesitate to raise rates if it needs to." On Tuesday, the RBA decided to hold its official cash rate steady, at 4.35%.

Bullock also addressed the impact of climate change and the changes needed to mitigate its risks, saying that investment in renewable energy should bring about significant economic benefits.

bullock rba

Australia's central bank cuts key rates by 25 bps

18 February

The Reserve Bank of Australia (RBA) revealed on Tuesday it decided to trim its key rates by 25 basis points, marking the bank's first cut since 2020.The central bank's targets for the cash rate and the interest rate on Exchange Settlement balances have thus been lowered from 4.35% and 4.25% to 4.10% and 4%, respectively. The move was widely expected, especially after the RBA softened its tone in its previous policy statement.The bank said in today's...

Australia's central bank insists on tight policy

24 December

The Reserve Bank of Australia's (RBA) board members affirmed that monetary policy must be "sufficiently restrictive" until they can be confident that inflation is moving toward the target, meeting minutes showed. The members noted that upside inflation risks diminished since the last meeting, though they emphasized that risks remain. They stressed that relaxing the degree of policy tightness would be dependent on future data being in line or weaker...

RBA's Bullock: Monetary policy must stay restrictive

28 November

Reserve Bank of Australia (RBA) Governor Michele Bullock said on Thursday that monetary policy will need to remain restrictive until the RBA is confident inflation is falling sustainably within the 2% to 3% target range. She warned that there is still "some way to go" and that inflation is likely to return to the target range in 2026. Bullock said Australia’s labor market conditions "appear unusually tight" compared to similar economies and that the level of demand...

RBA says it saw 'no immediate need' to change cash rate

19 November

The Reserve Bank of Australia (RBA) saw "no immediate need" to change its cash rate target at its November meeting, the Minutes of the meeting revealed on Tuesday.The RBA's board members noted that it's important to keep monetary policy sufficiently restrictive until they are confident that inflation is moving sustainably toward the target. Board members said it wasn't possible to "rule anything in or out" regarding future changes in the cash rate target.The...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.