Andrew Hauser states inflation remains too high, signaling potential further rate hikes to curb price pressures.
Reserve Bank of Australia Deputy Governor Andrew Hauser indicated the central bank must continue efforts to reduce inflation, which remains elevated. He emphasized that timely policy action could mitigate future unemployment costs while addressing excessive capacity pressures through rate hikes.
Recent economic developments, including potential US-Iran diplomatic progress, were noted, though global oil price stability remains uncertain. The RBA’s primary mandate targets 2-3% inflation, with interest rates as its main tool to achieve price stability and economic welfare.
The AUD/USD pair held near 0.6910, down 0.10% on the day, reflecting cautious market sentiment following the remarks.