RBA governor says inflation bump no surprise but won’t say whether rates will rise

Michele Bullock tells Senate estimates ‘we might need to go again’ as Westpac joins other big banks in predicting November rate rise

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The Reserve Bank governor, Michele Bullock, says Australia’s pickup in inflation was anticipated by the RBA, but it is too early to determine its impact on interest rate settings.

Appearing before Senate estimates for the first time since becoming governor last month, Bullock on Thursday said the September quarter inflation figures were “a little higher” than the central bank had predicted in its August forecasts.