SYDNEY, Aug 19 (Reuters) – Australia’s central bank will have to raise interest rates again if upside risks to inflation crystallize, a top official said on Wednesday, adding that inflation in Australia is still too high.
Speaking at an event in Queensland, Reserve Bank of Australia Deputy Governor Andrew Hauser singled out three upside risks to inflation – the Middle East conflict, the global AI boom and poor productivity.
The RBA held interest rates steady at 4.35% for a second meeting last week, having already hiked by 75 basis points since February to restrain stubborn inflationary pressures.
(Reporting by Stella Qiu; Editing by Tom Hogue)
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