RBA Pivots to Confront Global Downside Risks as Inflation Eases
After a three-year campaign to rein-in inflation, Australia's central bank is now switching its focus to economic risks arising from the Trump administration's tariff regime and mounting geopolitical upheaval.
Reserve Bank Governor Michele Bullock surprised markets last week when she told reporters she intended to 'retire' the 'narrow path' analogy she has used since taking the helm in 2023 to describe efforts to return prices to the 2-3% target while holding onto job gains. Bullock is currently visiting China, Australia's key trading partner and the US's primary tariff target, to meet with senior officials in order to get their reading of events.
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