Reserve Bank of Australia (RBA) Deputy Governor Michele Bullock is speaking at a business lunch hosted by the Economic Society of Australia, in Brisbane.
Key quotes
Wages are starting to rise a little more quickly.
Need to get rates up to some sort of neutral level.
Neutral is a fair bit higher than where we are.
Also read: RBA’s Bullock: Further rate increases will be needed in the months ahead
Market reaction
The hawkish RBA commentary continues to add legs to the aussie’s upside. The AUD/USD pair is trading at 0.6841, up 0.40% on a daily basis.