Reserve Bank of Australia warns more tightening may be needed

THE head of Australia’s central bank on Friday said it is possible some further tightening will be required to bring inflation to heel, but that would depend on data and evolving assessment of outlook and risks.

Appearing before lawmakers, Reserve Bank of Australia (RBA) Governor Philip Lowe said so far the recent data are consistent with the economy continuing to travel along the narrow path to a soft landing in which inflation eases without unemployment rising dramatically.

This is Lowe’s last such appearance given the government chose not to reappoint him when his first term ends in mid-September, instead elevating Deputy Governor Michele Bullock. REUTERS