BenefitsThe AgeMichele Bullock issues blunt warning just days before next rates decision
RBA governor Michele Bullock warned inflation is still too high, and Westpac now expects another interest rate rise this month with possibly more to follow.
Reserve Bank governor Michele Bullock said inflation in Australia was “too high” as she prepares to consider lifting interest rates for the fourth time this year.
Reserve Bank governor Michele Bullock told a parliamentary committee that inflation in Australia is too high and flagged the risk of another rate rise.
Westpac revised its forecast after her comments and now expects the RBA to lift rates at its 28 to 29 September board meeting, with the risk of a follow-up hike.
The RBA has already raised rates three times this year, and Bullock pointed to Middle East conflict, the AI boom and extreme weather as the main inflation drivers.
The RBA board meets on 28 and 29 September to decide on rates, so if you have a variable mortgage, a fourth rate rise this year could be coming very soon.
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