Reserve Bank of Australia governor Michele Bullock has declared the interest rate cutting cycle could be close to finished, after the bank forecast inflation to exceed its target range of 2 per cent to 3 per cent until the second half of next year.
Bullock admitted the central bank was surprised by the jump in underlying annual inflation to 3 per cent in the September quarter, and said that controlling price pressures was currently a bigger focus than protecting jobs.
Source: https://www.afr.com/policy/economy/rba-keeps-rates-on-hold-amid-high-inflation-jobless-spike-20251104-p5n7jk