Michele Bullock, the governor of the Reserve Bank of Australia, has noted that the labor market is easing more quickly than expected. The RBA remains confident in the rigidity of its monetary policy but questions whether current limitations are sufficient. The RBA has also downplayed the severity of the cash flow squeeze for borrowers, arguing that it is getting unwarranted attention. Despite rate increases, the RBA has defended its policy, stating that it is not solely aimed at harming borrowers.