RBA staff forecasts sharply raise inflation outlook, flags further tightening

The RBA's explicit signal that conditions need tightening further, even after cash-rate increases already delivered, marks a shift from describing past moves to flagging more ahead — a hawkish tone that matters for rate-sensitive sectors well beyond crypto. The identification of AI-related investment as a driver of tech goods inflation is notable: it links the same capital flows powering AI and digital-asset narratives to the price pressures central banks are now fighting. Whether that AI-driven goods inflation proves persistent, and whether expectations become entrenched as the RBA fears, are the open questions.