Michele Bullock issues blunt warning just days before next rates decision

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Share A A A Reserve Bank governor Michele Bullock has issued a blunt warning that inflation in Australia is too high days before the bank’s board will consider lifting interest rates for the fourth time this year.

Addressing a House of Representatives Economics committee on Friday, Bullock said the Middle East conflict, the AI boom and extreme weather events were pushing up prices.

RBA governor Michele Bullock speaking during a parliamentary committee hearing on Friday. Alex Ellinghausen “Inflation is too high,” she said. “We are focused on getting it back down and making sure that it does not become embedded into price and wage-setting decisions.”