Reserve Bank of Australia Deputy Governor Andrew Hauser said tighter policy is slowing the economy, but the inflation outlook has worsened. He is unsure whether rates will need to rise further, with the next board decision due on November 3.
Andrew Hauser, a Reserve Bank of Australia deputy governor, said on Wednesday that tighter monetary policy was working to slow the economy. However, the inflation outlook had still worsened, leaving him unsure whether rates would need to rise further.
Speaking at a Citi conference, Hauser said the bank's economists were finalising their forecasts on the outlook. He added that he did not know for sure what the RBA board would decide at its next meeting.
The central bank meets on November 3 to decide whether to raise its 4.60% cash rate for a fifth time this year. Reuters reports that the bank struggles to bring inflation under control.
Source: Investing.com
Trading involves risk.
Risk Disclaimer
