Inflation still going north

In evidence to the Economics Select Committee, Reserve Bank Governor Glenn Stevens has cast doubt on whether inflation in Australia had peaked. Governor Stevens indicated that to the year ending December 2007 inflation was approximately 3.5%, he further went on to express that he expected the next number to be approximately 4%. However recent reports from the Reserve Bank have signalled signs of a slowing economy cooled by higher interest rates.

Source: The Age

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