# Interest rates unlikely to fall amid 'once-in-a-generation' inflation battle, warns former RBA boss Glenn Stevens - ABC News

> Minutes from the RBA's May meeting showed further interest rate increases may still be needed, depending on economic and inflation developments. Former RBA governor Glenn Stevens said rates are unlikely to fall much from current levels. Consumer confidence has fallen to levels seen during the pandemic and the 1990s recession.

- Date: 2023-05-16 · published 2023-05-16T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/36211-interest-rates-unlikely-to-fall-amid-once-in-a-generation-inflation-battle
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Persistently high rates weigh on domestic demand and the currency, with limited direct impact on feed commodity prices. The story is macro commentary on monetary policy.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- abc.net.au: https://www.abc.net.au/news/2023-05-16/consumer-confidence-down-amid-generational-inflation-battle/102350772

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.