RBA’s Bullock: Underlying inflation is still too high to consider a near-term rate cut

• Policy will need to remain restrictive until there is more confidence on inflation
• There is still some way to go in returning inflation sustainably to target band
• Our forecasts suggest a sustainable return to target will occur in 2026
• The board will reconsider policy approach as more data comes to hand

Nothing new there from Bullock as she reaffirms that the RBA are not yet ready to cut rates just yet.

This article was written by Justin Low at www.forexlive.com.