RBA Governor Bullock says need to think carefully on policy; recent data have been mixed with some softening; need to see more progress on underlying inflation; did not discuss rate cut or rate hike

• Do not know if RBA will cut rates in February, will have to watch data - wages and demand are slowing.


• Discussed that upside inflation risks had eased but not gone away.


• Some inflation pressures remain.


• Some data has been a bit softer, but inflation elevated.


• Level of demand is still too high.


• Change in wording of statement is deliberate.


• Board has noted that data has been softer.


• Have a little bit more confidence on inflation.


• Board feels economy pretty much in line with forecasts.


• Do not need two or more quarterly inflation prints for change.


• Will be watching all data including employment.


• Do not want to endorse market reaction, but not surprised by reaction.

10 Dec 2024 - 04:33- Fixed IncomeImportant- Source: Newswires