Australia’s RBA looking for opportunities to slow rate hikes

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Pedestrians walk past the Reserve Bank of Australia building in central Sydney

SYDNEY (Reuters) – A top Australian central banker said on Wednesday monetary policy was not yet restrictive despite five rate rises in as many months, but the bank was looking for opportunities to slow the pace of hikes at some point.

Reserve Bank of Australia (RBA) Deputy Governor Michele Bullock also noted that new monthly data on inflation would be released next week but would have a lot of statistical noise and were unlikely to have much impact on the RBA’s deliberations at its Oct. 4 Board meeting.

Bullock added the outlook for the global economy was “worrying”, as was the outlook for China’s zero-COVID policy and its property market.

(Reporting by Wayne Cole; editing by Christian Schmollinger)

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