Cut it out
Michele Bullock isn’t giving clues on where rates are going, leaving economists split on whether the Reserve Bank’s next move is a cut, a pause or a hike.
The Reserve Bank's decision to hold rates today left one big question hanging over Michele Bullock’s press conference: when will there be another cut?
The RBA governor clearly did not want to be made to speculate. Take her cagey response when Capital Brief asked her to clarify the wide disparity in economic predictions.
She said the economy is in a “positive situation”, with inflation broadly back in the target band and employment close to full. But despite the board’s own statement warning inflation is running hotter than expected, she resisted giving any forward guidance.
She said she “can’t say what that means for next month or the month after … it is going to depend on what the data tell us”.
