RBA's Bullock Warns Inflation Is Far Too High Ahead of November Policy Meeting

Reserve Bank of Australia Governor Michele Bullock warned that inflation remains far too high and exceeds the central bank's August forecasts, reinforcing market expectations of further monetary tightening. Speaking to a Senate committee, Bullock cited domestic demand outpacing capacity, a tight labor market, and surging global oil prices. Her comments followed data showing third-quarter trimmed mean CPI rose 3.7% year-on-year, above the 3.6% forecast, while September headline CPI reached 4.3%. Having already lifted rates by 100 basis points this year, the RBA Board convenes November 2-3 to evaluate policy settings.