Reserve Bank of Australia Governor Michele Bullock said it is premature to think about interest rate cuts and the highest priority is to bring inflation sustainably towards the target.
At the Anika Foundation, Bullock reiterated that the bank remains vigilant to upside risks to inflation and the monetary policy needs to remain sufficiently restrictive.
"If economic conditions don't evolve as expected, the Board will respond accordingly," she said. "But if the economy evolves broadly as anticipated, the Board does not expect that it will be in a position to cut rates in the near term," she added.
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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.