RBA Governor Bullock Holidays in Hobart After Rate Hike

Reserve Bank of Australia governor Michele Bullock took a holiday in Hobart just days after the central bank hiked interest rates for the fourth time this year. She was seen at The Den in Salamanca on Monday night, enjoying time off following the September 29 rate increase.

The RBA’s Monetary Policy Board unanimously raised the cash rate by 0.25 percentage points to 4.6%, citing elevated inflation fueled by rising global energy prices due to Middle East conflicts. The board noted that higher fuel costs were pushing up prices across other goods and services, with recent inflation figures exceeding expectations.

Bullock missed last week’s Council of Financial Regulators meeting, where Deputy Governor Andrew Hauser represented the RBA. She had previously stated that both public and private demand were contributing to inflation, emphasizing that the RBA’s focus remains on bringing inflation down to target levels.

The board also highlighted declines in house prices across most capital cities and a noticeable drop in new housing loans. Despite these developments, the RBA reiterated its commitment to taking necessary actions to stabilize inflation.