Bullock Sounds Alarm: Inflation Too High for RBA

RBA Governor Michele Bullock has expressed concerns about Australia's high inflation rate, hinting that the Reserve Bank may raise interest rates again in September. The current inflation level is too high, according to Bullock, who pointed out that upside risks are materializing despite a slowing economy.

The RBA board will meet on September 28-29 to assess whether three previous rate hikes this year have been sufficient to bring inflation back within the target range of 2.5%. Bullock stated that the key question for the meeting would be whether these increases can achieve this goal 'in a reasonable time.'