RBA dep gov Bullock says further interest rate hikes are on the way in the months ahead

Reserve Bank of Australia's Deputy Governor Michele Bullock

• Board expects to increase interest rates further over the coming months; pace and timing will be determined by data
• Factors the board will monitor closely include the global economy, household spending and wage- and price-setting behaviour
• Board is determined to do what is necessary to return inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term to target
• Our policy rate trajectory has been as steep, or steeper, than other central banks
• A very tight labour market starting to put upward pressure on wages
• Rate rises, price rises starting to put pressure on household budgets
• Board felt a 25 basis point rate rise was warranted in October while it took stock of developments in consumption, wages and the international economy
• Was an active discussion internally and at the board meeting about the appropriate size of the October rate increase
• As the board meets more frequently than most peers, it can achieve similar tightening with smaller individual rate rises

Upcoming RBA meetings:

• November 1
• December 6
• February 7