HSBC: The Reserve Bank of Australia may continue to focus on excessive inflation in the short term

```htmlAccording to Golden Ten Data on April 14, Paul Bloxham, Chief Economist at HSBC, stated that as the Middle East war continues and interest rates rise, the confidence of Australian businesses and consumers is declining, making the current situation quite challenging for Reserve Bank of Australia officials. In the short term, the Reserve Bank of Australia may continue to focus on the issue of excessive inflation. However, once economic activity indicators show a sufficiently clear decline, suggesting that the job market will cool more quickly, the market should then expect that the Reserve Bank of Australia will confidently predict that the core inflation rate will return to the 2.5% target level and that further policy tightening will no longer be necessary.```