The Reserve Bank of Australia (RBA) Governor Michele Bullock spoke in parliament on Thursday. Bullock said that the central bank is in a good position to get inflation down in a reasonable amount of time.
Key quotes
“Global economy held up better than initially expected.”
“Had been worried about hard landings and recessions.”
“In a good position to get inflation down in a reasonable amount of time.”
“Inflation is being persistent, particularly in services.”
“But it is coming down.”
Market reaction
At the press time, the AUD/USD pair was up 0.12% on the day to trade at 0.6499.
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