Australia’s Central Bank to ‘Do What’s Necessary’ to Hit Inflation Target

Bloomberg Markets and Finance published this video item, entitled “Australia’s Central Bank to ‘Do What’s Necessary’ to Hit Inflation Target” – below is their description.

Australia’s central bank says it “will do what’s necessary” to bring inflation back down to its 2-3%. Reserve Bank Governor Philip Lowe, in an interview with Australian Broadcasting Corp., said this means the cash rate may climb to 2.5% at some point. Swati Pandey reports on Bloomberg Television.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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