RBA’s Bullock: Rate Hike May Not Be Enough, But That’s Not So Obvious

Bullock's framing keeps optionality rather than signalling a firm path: the admission that the last hike may fall short preserves the case for further tightening, while the caveat about it not being obvious tempers any expectation of an imminent move. That combination matters most for rate-sensitive sectors, where the cost of borrowing hinges on how the RBA reads lingering inflation pressure. Whether the central bank acts on this residual concern or settles into a wait-and-see stance is the open question markets will be parsing.