Reserve Bank of Australia Chairman Bullock: We are considering scheduling a monetary policy committee meeting around the release schedule of the Australian Bureau of Statistics inflation data. There is no wage-price spiral in Australia. The Commission did not take this decision lightly; action must be taken to reduce inflation. Interest rates will be adjusted as needed. The best help that can be provided is to bring the consumer price index back to the target level of 2.5%. We are confident that the Reserve Bank of Australia can lower the consumer price index and will take all necessary measures. All necessary measures will be taken to adjust interest rates to reduce inflation.

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