RBA’s Bullock Signals More Rate Cuts Needed to Meet Inflation Goal

Reserve Bank of Australia Governor Michele Bullock said the central bank’s latest economic projections assume further cuts to the cash rate, indicating that additional easing may be required to keep inflation on track with the RBA’s price-stability objective. Bullock added that failure to deliver the anticipated reductions could leave the forecasts off target, and she cautioned that a deterioration in U.S. economic conditions could heighten market volatility, complicating the policy outlook.