RBA Deputy Governor Hauser Signals Further Rate Hikes Possible if Inflation Persists

• RBA Deputy Governor Hauser stated further rate hikes are possible if inflation persists.
• Inflation remains too high, requiring monetary policy to reduce demand.
• AUD/USD saw a marginal 0.1% dip after the remarks.

Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser indicated on Wednesday that inflation remains excessively high and monetary policy must continue to reduce demand to bring it down. He warned that the central bank would need to raise interest rates again if upside risks to inflation materialize and consumer prices fail to ease. Hauser also noted that while the economy is experiencing a slowdown, it is not heading towards a recession. Following these remarks, the Australian Dollar (AUD) saw a marginal downtick, with AUD/USD trading 0.1% lower near 0.7078.