“Australia's top central banker on Tuesday flagged a lot more policy tightening ahead as rates were still 'very low' and it was important that higher inflation did not feed into public expectations and wage claims,” said Reuters as it quotes Reserve Bank of Australia Governor Philip Lowe.said price pressures continued to build both globally and domestically and inflation was now seen reaching 7% by the end of the year, up from a previous forecast of 6%.
It was important that inflation expectations remain anchored around 2-3% and that higher prices now did not feed through to expectations of rising inflation in the future. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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