The Reserve Bank of Australia will not follow the US Federal Reserve and cut interest rates this year because inflation is still too high and the 4.35 per cent cash rate is not very high by global standards, deputy governor Andrew Hauser says.
“Sadly, at the moment, Australian inflation is a bit stickier than it has been in the US,” Mr Hauser said on Friday.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
