HomeEconomyRBA chief 'open minded' to future tightening Economy RBA chief 'open minded' to future tightening By farahat July 12, 2023 0 37 views Share FacebookTwitterPinterestWhatsApp LOW +0.% Add to Watchlist/ Remove from watchlist Add to watch list Add Job Location successfully added to: Please tell us your holding portfolio type: purchase Sell date: 11 quantity: price Point value: Leverage: 1:1 1: 1: 1: Author: Stella Qiu SYDNEY (Reuters) – Governor of Australia’s top central bank On Wednesday, he said he was confident raising interest rates in an effort to cool inflation, but that inflation may have to rise further, suggested that a decision on whether to resume rate hikes in August may be close. Reserve Bank of Australia RBA governor Philip Lowe in review recommends slashing the decades-old institution Following the overhaul, changes were also announced to the way the central bank makes and announces interest rate decisions, including fewer but longer meetings. The Australian central bank kept interest rates steady last week and raised interest rates sharply 11 From May last year to is 4.1% The yearly highs in the U.S. rate indicated that it will take time to assess the impact of past rate hikes. “The board is well aware that monetary policy operates with a lag and that the full impact of tightening has not yet been felt,” Lowe said in a speech express. Economist in Brisbane. “We believe what we’re doing is working. The question mark is how much more do we need to do? We’re totally open to that.” Lowe noted that the board will issue an updated set of economic forecasts next month, along with a revised assessment of the balance of risks to the economic forecasts, which will help provide the basis for the eighth The decision of the month provides information. Market sees Low’s comments as slightly dovish, 3-year bond futures up 8 ticks to session high . . Investors are divided on whether the RBA will raise interest rates in August, with futures showing around 11% Chance of not moving. “Whether this (whether further tightening is needed will depend on how the economy and inflation evolve,” Lowe said. Huge changes at the RBA Lowe, who will find out this month that his term will be extended for another seven years, listed some of the changes the board decided upon based on the review. from400, the RBA will meet eight times a year, compared to The governor will hold a press conference after each meeting and issue a quarterly statement on monetary policy, which will include the bank’s economic forecasts, to be released in parallel with the policy decision. The board will also decide on a number of other recommendations based on the results of the review, including posting unmarked ballot counts at a later date. Treasurer Jim Chalmers said on Wednesday that the cabinet will meet soon to decide on the next RBA governor , local media reported that the decision could be made as early as this week. Lo has been under a cloud since saying it repeatedly 100 Interest rates will not rise until 95, just to reverse course in the middle and hike -52 when inflation unexpectedly spikes. Share FacebookTwitterPinterestWhatsApp Previous article'Love Island, USA' Season 5 Cast Announced, Sarah Hyland Returns as HostNext articleBest way to decide and pick out dissertation writing service farahat RELATED ARTICLES Economy Global investment funds target India, despite M&A activity decline September 25, 2023 Economy Asian shares fall after brutal central bank week, yen under spotlight September 25, 2023 Economy EU car group calls for urgent action on post-Brexit trade rules September 25, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! 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