RBA Warns Middle East Conflict Risks Growth and Inflation
RBA official Christopher Kent warned that the Middle East conflict risks growth and inflation. The bank recently raised rates to 4.1 percent as prices remain high.
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A senior official from the central bank of Australia has issued a warning regarding the ongoing conflict in the Middle East, stating that a prolonged period of instability could result in significant economic damage. Assistant Governor Christopher Kent noted that policymakers must remain focused on preventing a surge in energy prices from permanently altering inflation expectations.
