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On Tuesday, Reserve Bank of Australia Governor Bullock participated in a panel discussion titled “Inflation, Financial Stability and Employment” at a high-level meeting of the Hong Kong Monetary Authority and the Bank for International Settlements.
Key Quotes
The central bank must “remain cautious” in using interest rates to reduce inflation without raising unemployment.
High employment rates help people pay for more expensive mortgages.
The path of Australian inflation is similar to that overseas.
AUD/USD maintained its upward momentum despite weak Australian retail sales data and cautious comments from Reserve Bank of Australia Governor Bullock. As of press time, AUD/USD was trading at 0.6618, up 0.20% on the day.
