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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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.