Reserve Bank of Australia Gov. Michele Bullock remains cautiously hawkish.

In public comments as part of a discussion with other regulators, she noted that weak productivity growth wasn't conducive to containing inflation, while minutes of the RBA's November board meeting noted that underlying inflation was more persistent than expected and that the risk of not achieving the inflation target had increased.

Josh Williamson, chief economist at Citi, says he continues to expect a further 25-basis-point hike in the cash rate target in February 2024, and believes the fundamental risk is that rates could be even higher.

Source: Marketwatch