“Provided we are still on top of inflation, which is what we intend to be, then, and we’re getting confirmation that we are, then, yes, there is an easing cycle coming,” she said.

The RBA has kept interest rates on hold at 3.85 per cent. Source: SBS News

“We just want to confirm with a full quarterly CPI that we’re still on track to deliver inflation continuing down to the middle of the band over time,” Bullock said.

“The board decided to wait a few weeks to confirm that we’re still on track to meet our inflation and employment objectives, as well as a very thorough consideration of Australian economic conditions.”

‘Not the outcome a lot of people wanted’

“Interest rates have come down twice in five months. But we know the job’s not finished because people are still under pressure, and the global environment is so uncertain.”