The Reserve Bank of Australia's monetary policy tightening has been steeper than its global peers, Deputy Governor Michele Bullock said Tuesday.
Unlike most of the peer central banks, the RBA board makes decision 11 times a year and evaluates the situation frequently, the central banker said at an annual conference of the Australian Finance Industry Association in Sydney.
Bullock pointed out that the more frequent meetings provide flexibility to the central bank on the size and timing of rate hikes. "It also means that if we increase interest rates at every meeting, we can potentially move much faster than overseas central banks," the policymaker added. The RBA can achieve a similar rise in interest rates with smaller increments, she said.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.