Skip to navigation Skip to content Skip to footer Help using this website - Accessibility statement Today's Paper Menu Policy Economy Australian economy Weaker growth must be accepted to defeat inflation: RBA Grace Lagan Economics reporter Updated Oct 13, 2026 – 3.33pm, first published at 1.13pm Save Share Gift this article Add us as a preferred source on Google The Reserve Bank of Australia says weaker growth in employment and economic demand must be accepted as the cost of bringing inflation back to target, as rising global cost pressures worsen the trade-off in the central bank’s dual mandate. Minutes from the September monetary policy board meeting released on Tuesday also stressed the effect of home-grown cost pressures and noted that further price increases – and corresponding rate rises – could be on the horizon. Governor Michele Bullock’s board says further interest rate rises remain on the table. Louise Kennerley “In reaching [the decision to increase interest rates], me...