She , and now simply two days later, Taylor Swift has performed it once more – turning into the primary artist to be referenced on the Reserve Financial institution of Australia (RBA) post-rates assembly press convention.
It got here as RBA governor Michele Bullock held the inaugural information convention after at its first board assembly of the yr — a transfer that got here after the . It does, nonetheless, stay above the RBA’s goal band of 2-3 per cent.
The RBA signalled in its post-meeting assertion that it’s notably involved by , saying that whereas items value inflation got here in beneath its November forecasts, companies value inflation “declined at a extra gradual tempo” and “stays excessive”. It additionally famous “companies value inflation has remained persistent” abroad and that “the identical might happen in Australia”.
9 newspapers’ economics reporter Shane Wright used Swift for example a query on how fee hikes impacted companies inflation.
“How do rate of interest rises have an effect on companies inflation, be it insurance coverage, authorized charges, or Taylor Swift tickets?,” Wright requested Bullock, after saying “Taylor Swift inflation” had hit his household final night time after his daughters “tapped the financial institution of mum and pop” for assist buying “newly introduced releases”.
“Sure, I do know all about Taylor Swift inflation,” Bullock stated.
Bullock continued by explaining companies inflation was tough to deal with. Financial coverage (like fee actions) can impression demand and thus good inflation, she stated, nevertheless it did not straight impression companies inflation.
“However it might not directly impression as a result of these types of prices go into enterprise prices … and to the extent that demand is tempered, it tempers the flexibility of them to go on prices,” she stated.
She added: “On Taylor Swift tickets — I might say that, from my very own expertise, my youngsters … forewent different issues so as to have the ability to afford Taylor Swift. So I feel individuals are deciding what’s actually essential to them and what’s not as essential to them. Clearly, for lots of people, Taylor Swift is essential.”
Reserve Financial institution of Australia governor Michele Bullock delivered the central financial institution’s first-ever, post-rates announcement press convention. Supply: AAP / Bianca De Marchi
Bullock additionally advised reporters she was protecting her choices open on rate of interest actions each up and down and stays alert to financial dangers on the horizon.
“Nothing’s in, nothing’s out,” Bullock stated through the first-ever post-meeting media convention.
Requested if inflation was heading sustainably again throughout the 2-3 per cent band, she stated Australia was “probably” nonetheless on the slim path to a mushy touchdown.
This refers to a state of affairs the place inflation is introduced below management whereas the economic system retains rising.
The information convention – a brand new version to the post-meeting regime designed to inject extra transparency into the financial institution’s operations – fleshed out communications in a press release issued by the board.
– With the Australian Related Press.