RBA Governor Bullock says economy performing reasonably well, labour market a positive development, adds the Bank will monitor data and act if inflation becomes entrenched, warning that further rate hikes may be needed

RBA Governor Bullock says economy performing reasonably well, labour market a positive development, adds the Bank will monitor data and act if inflation becomes entrenched, warning that further rate hikes may be needed.

RBA Governor Bullock's comments suggest a balanced approach to the current economic climate, highlighting resilience in the economy and favourable conditions in the labor market. However, his warning about potential further rate hikes indicates that the RBA remains vigilant regarding inflation pressures, which could imply shifts in monetary policy if data trends persist. Traders should consider how this stance might impact the AUD and fixed-income markets, particularly in light of global rate dynamics.