‘Coming down gradually’: Inflation still seen as ‘too high’

Betashares Chief Economist David Bassanese says inflation is still being seen as “too high”. Mr Bassanese said it is “coming down only gradually”. His comments come after the Reserve Bank of Australia kept the official cash rate on hold at 4.35 per cent in August. “At best I think at the moment they’ve got rates on hold, but if share market volatility dies down and concerns about the US economy go away, we may still be left with a tightening bias here and hoping that inflation can come down,” Mr Bassanese told Sky News Australia.