Bullock was hawkish earlier on the week:RBA leaves cash rate unchanged at 4.35%, as expectedRBA governor Bullock: Inflation progress has been slow for a year nowRBA governor Bullock: A rate cut is not on the agenda in the near-termThe response to the RBA meeting yesterday is a 25bp rate cut priced for December 2024And, same again today:RBA Governor Bullock: Don't expect to be back in 2-3% target range until end of 2025"The most recent inflation reading shows that while inflation is lower than it was a year ago, it is still too high. Inflation in many goods prices has declined but inflation in services prices is high and proving very sticky.""I know this (raising rates) is not what people wan
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