Michelle Bullock Feb 6
  • We are not ruling anything in or out on policy
  • We still think risks are balanced
  • What we're really looking for is data that assures that inflation is coming back to target
  • We've had good news so far on inflation but it still has a '4' in front of the the inflation rate
  • We don't want inflation expectations to rise
  • Tax cuts are not a material issue for inflation and spending
  • We need to be sure we won't have to backtrack on inflation
  • I feel we are potentially on the narrow path to getting inflation back to target, cites 2.8% 2025 inflation forecast
  • Says confidence level on getting there is 5/10, more data needed
  • I'm really convinced we can bring inflation down without too much pain in the labour market
  • We judge risks to inflation as fairly balanced
  • Employment is still growing and the board, I can assume you, is very, very focused on that
  • We've got to be confident that we'll get to the midpoint of the target to think about interest rate cuts

The Australian dollar is at the highs of the day during the press conference but it's also coming alongside reports about China helping the stock market.

She didn't strike me as hawkish.