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Guidance: the policy rate will need to rise further, the bank will be assessing how much higher interest rates will need to go to return inflation to target
Headline inflation eased because of lower gasoline prices but price pressures are broadening, especially in services
Growth was a bit weaker than expected at 3.3% in Q2, but domestic demand is very strong. The housing market is pulling back as anticipated.
The bank expects growth to moderate further during the rest of the year.