RBA’s Bullock Signals Slow Rate Cuts Pending Clearer Inflation Data

Reserve Bank of Australia Governor Michele Bullock said the central bank’s board believes a "cautious and gradual" path to monetary easing remains appropriate, underscoring that any reduction in interest rates will depend on incoming data. Bullock noted that second-quarter core inflation may not have moderated as much as previously expected and emphasized the need for further evidence that price growth is converging toward the RBA’s 2.5% midpoint target before policy is loosened.