RBA’s Hauser: Will have to raise rates again if inflation doesn’t come down

Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said during the Asian trading session on Wednesday that inflation is too high and the central bank needs to raise rates to bring price pressures down.

Additional remarks

Monetary policy needs to bring inflation down, needs to reduce demand in economy.

Not seeing recession, just slowdown.

Worried about inflation, upside risks to inflation.

If inflation doesn’t come down, will have to raise rates again.

Market Reaction

A marginal downtick is seen in the Australian Dollar (AUD) following remarks from RBA's Hauser. At press time, AUD/USD trades 0.1% lower to near 0.7078.