The RBA lifted interest rates by a further 0.25 per cent today in a bid to curb rising inflation.
The RBA Board warned that inflation was likely to remain “relatively high” in the short-term and may rise further in year ended terms, before moderating next year.
In his statement, RBA Governor Glenn Stevens, did however suggest that there are signs that bullish consumers may be becoming more cautious.
But despite softer consumer sentiment and “household credit demand slowing somewhat”, he stressed that moderation would need to be “significant” to have any impact on underlying inflation.
The official cash rate now sits at 7.25 per cent.
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