RBA’s Bullock: Inflation pulse is too strong

Reserve Bank of Australia (RBA) Governor Michele Bullock is speaking at a press conference following the announcement of the February monetary policy decision on Tuesday.

Earlier this Tuesday, the RBA raised the benchmark interest rate by 25 basis points (bps) to 3.85%, as widely expected.

Key quotes

Inflation pulse is too strong.

It will now take longer for inflation to return to the target.

And this is no longer an acceptable outcome.

We cannot allow inflation to get away from us again.

developing story ....

Market reaction

AUD/USD is holding higher ground above 0.7000 on the above comments, adding 1.15% on the day, as of writing.