Opinion
Governor and treasurer share blame for sticky inflation
Michele Bullock and Jim Chalmers had fair warning about the need for decisive action.
Steven HamiltonEconomistMake no mistake: the upside surprise to core inflation of 1 per cent in the March quarter, above the Reserve Bank’s forecast of 0.8 per cent, is the governor’s and treasurer’s chickens coming home to roost.
The RBA started raising rates later, slowed rate rises earlier, and raised rates less than its peers. It has set monetary policy on a wing and a prayer.
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