‘Inflation higher for longer’: RBA boss has a ‘challenge’
Motley Fool Chief Investment Officer Scott Phillips says Reserve Bank Governor Michele Bullock has a “challenge” as inflation is going to be higher for longer.
Ms Bullock, on Tuesday, said a rate cut before Christmas is not on the cards.
The central bank has left rates on hold at 4.35 per cent for the sixth consecutive meeting.
“Michele Bullock has got a challenge,” Mr Phillips told Sky News Australia.
“What they basically said yesterday is inflation is going to be higher than we thought for longer than we thought, so what we’re going to do – nothing.
“I thought that was really interesting because they’ve basically said we don’t want to raise rates anymore.”
