On February 21st, Reserve Bank of Australia Chairman Brock expressed satisfaction with the progress made in inflation so far, but the work is clearly not yet completed. Good progress has been made in inflation, but the board needs to be confident that inflation can continue to return to the target range; The process of inflation decline faces risks and may come to a halt. The central bank’s forecast shows that if monetary policy is relaxed too quickly or significantly, the decline in inflation may stagnate and the inflation level will remain above the midpoint of the target range. Therefore, the board of directors remains cautious about the prospect of further policy easing; No specific action has been taken on interest rates as a pre commitment.
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