India, July 28 -- The Australian dollar weakened against other major currencies in the European session on Tuesday, following the comments of the Reserve Bank of Australia (RBA) Governor Michele Bullock.
The RBA Governor Bullock said today that inflation is still too high and that it is not impossible for interest rates to rise further.
Speaking at a luncheon of money market participants the RBA Bullock said, "some further easing in the growth of demand is likely to be required if we're to bring inflation back down sustainably to target".
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