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RBA governor Glenn Stevens offered some hope yesterday that interest rates may have reached their peak and the next cash rate movement could be down.
Speaking at a luncheon in Sydney Mr Stevens said he expected demand would continue to moderate and inflation pressures ease.
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“I think that our chances of keeping inflation low over the medium term are good,” he said.
Mr Stevens also said it looked more likely than it did a number of month’s ago that the “more moderate track for demand” would continue. If so, he said it would in due course, “begin to exert downward pressure on those elements of inflation that had picked up in response to strong demand.”
Mr Stevens conceded however that it would probably take some time and it was probably still too early to tell how much inflation may have curbed.
Published: 17-06-08
