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Home»Business»Australia central bank sees challenging economy, inflation risks
Business

Australia central bank sees challenging economy, inflation risks

October 18, 2023No Comments1 Min Read
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Pedestrians walk past the Reserve Bank of Australia building in central Sydney

Pedestrians walk past the Reserve Bank of Australia building in central Sydney, Australia, February 10, 2017. REUTERS/Steven Saphore/File photo Acquire Licensing Rights

SYDNEY, Oct 18 (Reuters) – The head of Australia’s central bank on Wednesday said the domestic economy was in a “challenging” situation with consumption slowing but inflation still elevated, and monetary policy was on a narrow path to balance these forces.

Reserve Bank of Australia (RBA) Governor Michele Bullock said there were signs that inflation might be difficult to suppress, particularly in services where it was proving to be sticky.

She warned that the central bank was very alert to upside risks on inflation and, were it to remain higher than expected, the bank would have to respond with tighter monetary policy.

Reporting by Wayne Cole; Editing by Christian Schmollinger

: .

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See also  China's exports to North Korea surge in April
Australia Bank central Challenging Economy inflation risks sees
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