RBA wary of cutting rates until it has more evidence on inflation, Bullock says

Reserve Bank of Australia governor Michele Bullock said the monetary policy board had become more concerned that consumer price growth was not falling as quickly as expected. Photograph: Steve Markham/AAP

The Reserve Bank is wary of cutting interest rates until it has gathered more evidence that inflation remains on a path back towards the 2.5% target the RBA governor, Michele Bullock, says as she defended the central bank’s slow and steady approach to monetary policy.

In a speech to the Anika Foundation in Sydney, Bullock also said the RBA was not targeting “a certain unemployment rate or number of job losses” in its pursuit of low and stable inflation.