Michele Bullock, the governor of the Reserve Bank of Australia, has noted that the labor market is easing with greater speed than forecast. The RBA remains confident in the stiffness of its monetary policy but questions whether current restrictions are sufficient. The RBA has also downplayed the seriousness of the cash flow squeeze for borrowers, arguing that it is getting excessive attention. Despite rate increases, the RBA has defended its policy, stating that it is not solely aimed at impacting borrowers.