‘Too high’: RBA rates warning as inflation fears flare
MORE interest rate hikes may be needed to get inflation under control, the head of the Reserve Bank says, as the Middle East oil crisis risks pushing prices ever higher. Ahead of a crucial inflation print, RBA governor Michele Bullock said underlying inflation had evolved broadly as expected since May. “But it is still too high,” she said in a speech on Tuesday to the Anika Foundation Fundraising Lunch in Sydney. After three rate rises since February, the labour market had eased somewhat and demand growth had been moderating, Ms Bullock said. But further easing i