The prospect of a cash rate increase on Tuesday changed dramatically over the past month. One wonders if the Reserve Bank listened more to the commentariat than the data
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Greg Jericho on the ‘cowardly’ rate rise – Full Story podcast
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Has there been an interest rate rise more desired by some economists and commentators despite no real reason, than the one pushed for on Tuesday? Alas, the Reserve Bank listened to the noise and felt compelled to raise the cash rate to 3.85%, but one wonders if they listened more to the noise of the commentariat than the data.
In Tuesday’s announcement, the RBA monetary policy board barely changed anything from its December statement.