SYDNEY, June 26 (Reuters) – Australia’s central bank said on Wednesday that monetary policy was restrictive with the current cash rate causing financial pain for many households, but it could not rule out further tightening if necessary to tame inflation.
In a speech on the banking industry in Melbourne, Reserve Bank of Australia (RBA) Assistant Governor Christopher Kent said interest rates of 4.35% were contributing to slower growth of demand and lower inflation.
Source: REUTER
