RBA Governor Bullock says too early to judge US election, tarrif implications

Reserve Bank of Australia Governor Bullock testimony to parliament

• Senate committee

Comments:

• premature to assess impact of US election outcome
• too early to assess tariff implications
• monitoring global developments, prepared to move accordingly
• RBA will respond as needed to geopolitical risks
• China’s stimulus plans are a positive for China and Australia

• Australia’s domestic inflation outlook is unchanged as yet
• government cost of living relief halps at the margin with inflation challenge

Christopher Kent, Assistant Governor (Financial Markets) speaking also:

• There are higher US deficits in prospect, along with higher rates and higher inflation than otherwise
• large tariffs on China could have an adverse impact on Australian exports

Reserve Bank of Australia Governor Bullock

This article was written by Eamonn Sheridan at www.forexlive.com.