Big bank boss admits inflation ‘surprise’ to Australians

ANZ boss Shayne Elliott has watered down claims from the new federal treasurer that inflation is “out of control” in Australia, but says there is no doubt it’s a “surprise” how things have trended economically recently.

The chief executive of the bank said inflationary pressures had “crept up” on Australians after a period of stability.

“None of us have lived through a period like this for quite a period of time,” he said.

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