Australian Inflation Remains Stubbornly High, Warns RBA Governor Michele Bullock

RBA Governor Michele Bullock has warned Australian mortgage holders that underlying inflation remains unacceptably high at 3.6 percent.

In a recent speech, Bullock stated that while headline inflation eased to 4.0 percent annually in March, the trimmed mean, the RBA's preferred metric, remains stubbornly stuck at 3.6 percent.

Bullock emphasized that addressing structural productivity and wage stagnation is crucial to breaking the stagnation deadlock and achieving sustained economic cooling.

The RBA has maintained its hawkish stance, demanding significant reductions in aggregate consumer demand to force inflation back into the target band.