Jun 4, 2026 – 6.14pmReserve Bank of Australia governor Michele Bullock has declared artificial intelligence is supercharging the world economy and is one of the reasons the bank was forced to U-turn on increasing interest rates.Bullock told a Senate committee on Thursday that extraordinary growth in AI investment ignited the global economy last year, just as the RBA was expecting it to slow amid uncertainty caused by US President Donald Trump’s tariffs.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles