RBA Governor Bullock: Today, Interest Rate Cuts or Hikes Were Not Discussed
Forex - Reserve Bank of Australia (RBA) Governor Michele Bullock stated that the topics of lowering or raising interest rates were not on the agenda during today's meeting; the Governor did not provide any signals for the February meeting. Bullock spoke after the meeting where the RBA left the interest rate at 4.35%.
Bullock indicated that careful consideration of policy is necessary, noting, "While some data has returned to a somewhat normal state, others are still sending mixed signals. It was discussed in the meeting that upward inflation risks have diminished, but have not disappeared."
The RBA Governor emphasized the need for greater confidence in inflation but mentioned that they could not say when this confidence would be established. Bullock stated that she did not yet know whether the interest rate would be lowered in the February meeting, and they would monitor the data. The RBA will hold its first meeting of 2025 on February 18.