RBA's Bullock: oil shock means inflation above August forecasts, Board meets next week

RBA Governor Michele Bullock said the oil shock means inflation will be above the August forecasts, near-term expectations remain high, and another sharp oil price rise would add pressure. She said inflation is unacceptably high, Australian domestic demand remains above supply, and the bank is assessing whether past rate hikes, not yet fully felt, can return inflation to target. The Board meets next week.

Detected & updated continuously · Source: Nebula