Australia's inflation upside risks emerge, RBA faces further tightening pressure at next week's policy meeting

Zhitong Finance APP has learned that Reserve Bank of Australia (RBA) Governor Michele Bullock said on Wednesday at a Senate committee hearing that some international and domestic upside inflation risks have materialized or are materializing, and inflation may therefore be higher than the central bank's August baseline scenario. The remarks came less than a week before the RBA's monetary policy meeting, with market attention on further rate hikes heating up. Data released the same day showed that Australia's CPI accelerated to 3.7% year-on-year last quarter, higher than the pace of the previous three months and exceeding the median estimate of 3.6%, further reinforcing the signal that inflationary pressures remain uncontrolled.