Reserve Bank of Australia Deputy Governor Michele Bullock said the interest rate hikes together with the cost of living pressures are set to weigh on consumption and cool demand, thus help to bring inflation back to the target.
Although inflation forecasts were revised up a little, there are good reasons to believe that the peak of the inflation is approaching, Bullock said in Sydney on Wednesday.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.