RBA's Michele Bullock addresses parliament after the first interest-rate cut in almost five years. Video by Australian Parliament House via AAP
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00:00While the strong employment growth is good news for job seekers, we are alert to the
00:04possibility that it is signalling a bit more strength in the economy which could delay
00:08or derail the disinflation process. We have not pre-committed to any particular course
00:15of action on interest rates. But in the forecast published this week, the central projection
00:20suggests that if monetary policy is eased too quickly or by too much, disinflation could
00:25stall and inflation would settle above the midpoint of the target range. So the Board
00:30remains cautious about the prospects for further policy easing.