The central bank has sounded the alarm on inflation, warning it's prepared to do what's necessary to push it lower, while trying to keep the economy on track.
The Reserve Bank of Australia on Friday restated its forecast for annual inflation to reach 7.75 per cent at the end of this year, in line with Treasury estimates.
Its board wants to return inflation to the RBA's preferred target range of two-three per cent "over time", using its monetary policy tool.
