RBA's Hauser says monetary policy is working, but the inflation outlook has deteriorated and appears worse than forecast, slightly exceeding expectations

Inflation has remained elevated for an extended period, while inflation expectations must remain anchored to the target. Companies continue to cite cost pressures as their primary concern. There has been some slowing in labour market and housing data. RBA is still finalising its forecasts, and it remains uncertain what decision the Board will make. Looks like quarterly trimmed mean will be higher than expected.