RBA’s Bullock Says Economy Cooling, Unsure If Rates High Enough

AI Summary

Australia's Reserve Bank chief Philip Bullock noted signs of the economy cooling as anticipated, but uncertainty remains on whether current interest rate hikes suffice to bring inflation back to target. The central bank continues to monitor economic conditions for potential further tightening.

Australia’s central bank chief said there are signs the economy is adjusting as anticipated, though it’s still unclear if this year’s interest-rate hikes are enough to return inflation to target or whether additional tightening will be needed.