Where were you guys in 2008? The RBA's response is entirely predictable. The situation is far more nuanced than property-bears on HC appreciate. They've got one over-sized mallet to manage a multitude of risks. If the RBA did raise on the CPI evidence alone - and keep them there - it would completely wreck the economy. In that instance, house prices would be the last thing on your mind, we'd probably be more interested in one-way airline ticket prices.
