RBA Governor Michele Bullock cast a hawkish hue over the most recent RBA Board decision to leave the policy rate unchanged at 4.35 per cent at its August meeting. In particular, her affirmation that the Board considered a policy rate rise (but not a cut) combined with an assessment that any near-term reduction in the policy rate was unlikely had led the market commentariat thinking (rightly in my view) that any reduction would need to wait until 2025.

Read Stephen’s ‘On the other hand’ here

Stephen Miller

Stephen Miller is GSFM’s market strategist. His expertise in international economic and policy analysis, as well as domestic and global economic and financial market developments, has resulted in him becoming a regular commentator on central banks, rates and inflation.

Information provided is general information and is for educational purposes only, and does not include, or constitute as, financial product advice.