Reserve Bank of Australia's Deputy Governor Michele Bullock with more:
- everyone is focused on the AUD/USD exchange rate, on a trade weighted basis the Australian dollar has not declined as much
- still feels there is a path ahead to get inflation down and not go into recession
In her comments earlier today (link below) Bullock spoke of smaller rate hikes ahead given the RBA meets every month (except January), which is more often than many other central banks. I guess she then follows on in her thinking that this flexibility gives the RBA a great chance of avoiding recession.
Earlier remarks are here: