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Headlines via Reuters:
- Too early to declare victory in the battle against inflation
- June rate rise followed information suggesting greater upside risks to bank’s inflation outlook
- Some further tightening of monetary policy may be required, depending on how economy and inflation evolve
- Ambition is to navigate narrow path where inflation returns to target and economy grows
- Still possible to navigate, but it is narrow path and likely to be bumpy, risks on both sides
- Evidence indicates that higher interest rates are working and that inflation is coming down
- April CPI reading has not changed assessment inflation is trending lower
- Job at central bank is to make sure period of high inflation is only temporary; important we succeed
- Acknowledge interest rate effects felt unevenly across community, but not a reason to avoid using them
- If we had not tightened policy, the cost of living would be higher for longer
- Desire to preserve job market gains does not mean board will tolerate higher inflation persisting
- Path back to 2–3% inflation is likely to involve a couple of years of relatively slow growth
