Speech by Christopher Kent, Assistant Governor (Financial Markets) at the RBA which was titled "Transport Channels"
- Further tightening may be needed to slow inflation
- Monetary policy slows demand growth and inflation
- Some of the additional effects of previous rate hikes are still being felt in the economy
- The impact of slowing demand growth on inflation is now growing
- Rising interest rates have increased incentives to save
- The Council pays close attention to economic developments here and abroad
The backdrop to this is that the Bank has paused the path of rate hikes over the last three meetings on October 25, we will get official quarterly CPI data as monthly indicators of inflation showed encouraging signs of declining inflation pressure.
And with Kent talking he doesn't seem eager to raise interest rates again.
