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The Guardian - AU

National

Peter Hannam

Michele Bullock’s ‘wild ride’ at the RBA could spell trouble for Labor if interest rate cuts aren’t on the way

Michele Bullock RBA Labor Jim Chalmers Reserve Bank

Michele Bullock — Markets are hopeful the Reserve Bank governor’s sentiments indicate likely interest rate cuts in the near future. Photograph: Steven Saphore/AAP

Michele Bullock, the Reserve Bank governor, concluded her final public appearance in 2024 saying: “It’s been a bit of a wild ride for me.”

Given the RBA hadn’t budged interest rates a jot for the whole year – the previous move was the November 2023 hike – assembled journalists might have wondered how Bullock will describe a concerted shift in either direction.

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