Hazy outlook fuels Reserve Bank caution on disinflation

The road to disinflation must be paved with caution, the Reserve Bank governor warns as global and domestic uncertainties threaten to derail Australia's progress. Michele Bullock was questioned on a range of pressing topics in a colourful parliamentary hearing, including the central bank's opinion on a dubious cryptocurrency based on an internet meme, and its recent rate cut decision. With inflation slowing more than expected, the board was convinced it was appropriate to slightly ease monetary policy for the first time in four years, she said. Know the news with the 7NEWS app: Download today But subsequent rate cuts are…