RBA assistant governor says AI investment surge could lift inflation firstMachine translation

Bloomberg: Reserve Bank of Australia Assistant Governor Sarah Hunter says Australia’s AI investment surge will lift inflation before productivity gains arrive. Data centre construction is adding demand for already-stretched skilled trades, and higher building costs are reaching the consumer price index. Pricier new phones and game consoles add a smaller push, she said. AI has barely touched headcount, but job ads and employment are weaker in AI-exposed occupations, especially for younger workers. She warned equities and corporate debt could reprice sharply if AI returns disappoint, since investors demand little compensation for risk.