SYDNEY, Feb 21 (Reuters) - Australia's central bank, startled by the risk that inflation could prove stickier than previously thought, abandoned all thought of pausing at its February policy meeting and signalled more rate hikes would be needed in the months ahead.
"The recent inflation data had suggested more breadth and persistence in inflation than had been expected and that strong demand was leading to price increases in some parts of the economy," the minutes said.
Board members agreed that further increases in interest rates are likely to be needed over the months ahead, consistent with market pricing. At two parliamentary hearings last week, RBA Governor Philip Lowe doubled down on the consequence of not able to get inflation under control, warning that domestically sourced cost pressures were still picking up even if consumer price inflation as a whole may have finally peaked last quarter.
France Dernières Nouvelles, France Actualités
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