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Governor Bullock was blatantly hawkish in her statement before Australia’s parliament on Friday.
Bullock stated that “upside risks to inflation appear to be materialising,” citing “the Middle East conflict, the AI boom, and extreme weather events.”
The governor said that Australia is now “in a very similar position to other countries” with “this prolonged Middle East conflict … putting pressure on prices”.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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