RBA Gov. Bullock says still considering whether CPI was a "material" change to outlook

<p>Reserve Bank of Australia Governor Bullock is appearing in parliament, before the Senate Economics Legislation Committee.</p><ul><li>She says the Bank is still thinking about if yesterday's inflation data showed a "material" increase.</li></ul><p>The RBA must be the only people in Australia still wondering about the 'material' question. Every analyst take I have seen have said it was and that it'll be addressed with a 25 bp rate hike in November. I concur. </p><p>More:</p><ul><li>Would not like to say if CPI makes a rate rise more likely</li></ul><p>Bullock is squandering an opportunity to land some blows against inflation prior to the Bank's meeting in a couple of weeks. New governor, but same old same old muddled messaging and complacency from the Bank. </p><p>Interest rate markets are trimming pricing for a November rate hike in response. </p><p>Earlier from Bullock:</p><ul><li><a href="https://www.forexlive.com/centralbank/rba-bullock-says-cpi-was-a-little-higher-than-expected-but-about-where-we-thought-itd-be-20231025/" target="_self">RBA Bullock says CPI was a little higher than expected, but about where we thought it'd be</a></li><li><a href="https://www.forexlive.com/centralbank/audusd-lower-as-rba-gov-bullock-speaks-20231025/" target="_self">AUD/USD lower as RBA Gov. Bullock speaks</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.