Opinion
Is the RBA a dove or a chicken?
Far from reassured, the governor’s remarks leave me deeply concerned about the bank’s commitment to fighting inflation.
Steven HamiltonEconomistA little-noticed moment in RBA governor Philip Lowe’s remarks at the National Press Club last week should lead every observer of the central bank to rethink its response functions.
The day before, the RBA held its benchmark rate at 3.6 per cent, despite inflation more than twice the top of the target band and unemployment remaining at its lowest level in half a century.
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