Ella 
Reserve Bank of Australia Governor Bullock said earlier on Thursday that inflation was slightly higher than expected but not too different from our expectations.
Inflation levels were slightly higher than we expected.
But the current level of inflation is not much different from what we expected
Commodity prices fell, but service sector inflation continued.
Services inflation is higher than we are comfortable with.
This must be factored into our forecasts.
The longer inflation remains above the target range, the more likely it is that inflation expectations will change.
The RBA’s tolerance for inflation has always been low.
The RBA aims to slow the economy without tipping it into recession.
The Australian dollar faced some selling pressure following a speech from Reserve Bank of Australia Governor Bullock. As of press time, AUD/USD fell 0.31% on the day to 0.6289.
