Australia central bank again warns inflation is too high

[SYDNEY] A top Australian central banker said on Wednesday inflation was too high and policy makers were committed to doing whatever was necessary to bring it to heel.

Speaking at a business lunch, Reserve Bank of Australia Deputy Governor Andrew Hauser said many parts of the economy were doing well but growth as a whole was bumping up against capacity constraints.

The RBA raised its cash rate last week by a quarter point to 3.85 per cent, reversing one of three cuts made last year, and left the door open to further tightening should inflation not subside as forecast. REUTERS