The Wall Street Journal

Sticky inflation points to more interest rate hikes for Australia

Sticky inflation points to more interest rate hikes for Australia
The Reserve Bank of Australia may need a series of interest rate increases to put inflation to rest. (Image: RBA)
The Wall Street Journal
Australia's trimmed mean inflation rose to 4.4% in May, putting it well above the central bank’s forecast of 4% for the full year to June.The stark reality of Australia’s growing problem with sticky inflation is that the Reserve Bank of Australia (RBA) may soon have to embark on a full-blooded extension of its tightening cycle, announcing not just one more rate hike but a series of increases to put the matter to rest.The problem has grown clearer in the data over recent months, with inflation rising to 4% in May from a year earl...

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