Michele Bullock cautious on rate cuts while inflation remains above 4 per cent

Reserve Bank governor Michele Bullock warns there "still some way to go" to meet the midpoint of the inflation target range of 2 to 3 per cent, adding that the bank has not ruled out another rise in interest rates, neither has it ruled it in. Ms Bullock told the House Economics Committee the Board "considered a range of scenario" before Tuesday's decision to leave the cash rate on hold at 4.35 per cent. Reporter: Peter Ryan, Senior Business Correspondent Featured: Michele Bullock, Reserve Bank governor