RBA’s Bullock Says AI Productivity Boom Still in Early Stages

Framing AI as an early-stage force gives the RBA room to treat productivity gains as a slow-moving backdrop rather than a variable it must react to now, which matters for how policy expectations get set around a technology whose economic footprint remains hard to measure. For markets, the relevant read is that a major central bank is not yet pricing AI as a near-term inflation or growth shock. Whether other central banks adopt the same patient framing is the open question.