(AGENPARL) - Roma, 6 Maggio 2022 - (AGENPARL) – ven 06 maggio 2022 Having issues? [View the online version](https://events.rba.gov.au/link/id/zzzz62747a643c53c612Pzzzz61358c86a728c671/page.html)
Statement on Monetary Policy
May 2022
We have released our latest [Statement on Monetary Policy](https://events.rba.gov.au/link/id/zzzz62747a643f57a351Pzzzz61358c86a728c671/page.html).
The Statement on Monetary Policy is released four times a year. It provides our assessment of current economic conditions and the prospects for inflation and output growth.
Global inflation is high, and Russia’s invasion of Ukraine and the spread of COVID-19 in China are adding to existing inflationary pressures.
Inflation in Australia remains lower than in many other advanced economies, but it has picked up faster and to a higher level than previously expected.
Unemployment is low and pressure to increase wages is building.
The broader Australian economy remains resilient and is expected to grow strongly this year.
The Board is committed to doing what is necessary to ensure that inflation in Australia returns to target over time. This will require a further lift in interest rates.
[Read the full Statement on Monetary Policy](https://events.rba.gov.au/link/id/zzzz62747a643f57a351Pzzzz61358c86a728c671/page.html)