RBA’s Bullock: Don’t Know What Next Rate Move Will Be; Not Offering Guidance

Rate Rise Needed To Bring Inflation Down - Growth Must Remain Subdued, Unemployment Rise Further - Some Pain Now Will Prevent Further Pain Later - Members Favouring Hold Saw Greater Downside Risks And Wanted To Wait Longer For Data - Inflation Pretty Much Baked In For Next Year; Not A Good Situation To Be In