The Reserve Bank of Australia (RBA) Governor Michele Bullock spoke in parliament on Thursday. Bullock said that the central bank is in a good position to get inflation down in a reasonable amount of time. 

Key quotes

“Global economy held up better than initially expected.”

“Had been worried about hard landings and recessions.”

“In a good position to get inflation down in a reasonable amount of time.”

“Inflation is being persistent, particularly in services.”

“But it is coming down.”

Market reaction

At the press time, the AUD/USD pair was up 0.12% on the day to trade at 0.6499.