In recent times (I would suggest since 2023) the RBA has become highly politicized. Every move, every statement it makes is now met with counter statements amounting to veiled criticism by the PM, his Treasurer, and the media. It constantly has to defend itself from such attacks, so much so that it cannot perform its role as an independent body as it should.
It doesn't matter what the RBA does with interest rates. If they cut, Albo will claim the credit that his policies to curb inflation are working, and people will believe him, despite the opposite being true. If they don't cut, he'll continue throwing money around to appease the masses (there is an election around the corner), and so defeat the RBA's efforts to bring inflation down. Either way, we're all screwed.
CBA Price at posting:
$165.44 Sentiment: Buy Disclosure: Held
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