Economics 101 - the only way the Reserve Bank can do anything about inflation is to increase interest rates. It is unavoidable to cause some pain but the whole idea is to stop people spending.
They are probably a bit too late though as the bubble has grown but there measures haven't included housing which is something they should look at more closely. A couple of interest rate rises 2 years ago may have done the trick.
interest rate rises have stopped me spending, page-21
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