RBA DEPUTY WARNS INFLATION OUTLOOK MATERIALLY WORSE AHEAD OF NOVEMBER MEETING

What happened: RBA deputy governor Andrew Hauser said the inflation outlook is "materially worse" than forecast and warned high inflation is becoming entrenched, ahead of the November rate decision. Key numbers: Inflation at 4 per cent per August CPI, against the RBA's 2 to 3 per cent target. Why it matters: Hauser said some businesses see 3 to 3.5 per cent inflation as the new normal, calling shifting expectations a "central banker's nightmare" the RBA cannot allow. He said near-term rate pain is meant to prevent worse pain if expectations get locked in.

RBA deputy flags materially worse inflation outlook ahead of November meeting.

RBA deputy flags materially worse inflation outlook ahead of November meeting. — impact context not separately stored; see What changed.