Australia’s central bank says nearer to point when it might pause on rates

SYDNEY (Reuters) – A top Australian central banker said on Thursday they might be getting nearer the point when they might be able to pause in raising interest rates, but more evidence was needed that demand was slowing as desired.

Answering questions before parliament, Reserve Bank of Australia (RBA) Deputy Governor Michele Bullock said rates had already risen substantially in a short period of time and might have to rise a “little bit further”, but that would depend on the flow of economic data.

The RBA had raised its cash rate by 275 basis points since May taking them to a nine-year high of 2.85%.

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