Australia’s top central banker warns still some way to go to meet inflation target

AUSTRALIA’S top central banker on Friday said there was still some way to go to meet the midpoint of the central bank’s target range of 2-3 per cent, adding that the bank has not ruled out another rise in interest rates, neither has it ruled it in.

Appearing before lawmakers, Reserve Bank of Australia (RBA) Governor Michele Bullock said Australia’s inflation challenge is not over, while there were some encouraging signs.

At a policy meeting earlier this week, the central bank kept interest rates steady at 4.35 per cent but warned it might have to tighten further should domestically generated inflation prove too stubborn. REUTERS