It is not for nothing that I often refer to economic...

It is not for nothing that I often refer to economic commentators as media hacks. How can anybody rely on anything that the hacks say? You just can't rely on them getting even the simplest arithmetic right. And, as they usually just parrot each other, if one of them gets something wrong then they all just copy each other and so they all get it wrong.

For the last several days, I have repeatedly heard and read several different media hacks refer to "nine" consecutive interest rate hikes, which is why (being such a trusting parrot myself) I mentioned "nine" interest rate hikes in my post of yesterday. Then today, the hacks are now all saying "ten" consecutive interest rate hikes, probably because Governor LoLo said "ten" in his speech today.

All is now clear.
Inflation is 6.8%.
Interest rate is 3.6%.
Inflation target is 3%.
Target time to reach inflation target is 27 months (mid 2025).

In other words, the RBA has awarded itself a very easy job - more than two years to get inflation down to its target of 3%, an inexplicably high target that is 50% above the FOMC's target of 2%. Hence, interest rates have been paused at 3.6%, which is only 0.6% above the inflation target, because anything can happen during such a long time span as 27 months. So inflation actually doesn't matter any more. What seems to matter to the RBA is ensuring that borrowers do not suffer any financial pain as a result of their own decisions and choices.

The RBA has made it crystal clear that money will continue to be ridiculously cheap for at least the next two years. This economic madness will undoubtedly be very positive for property prices, and will also automatically push up rents along with property prices. Although, the AUD will suffer, and there will be a high risk of inflation running out of control.

The question that I ask is, what is the point of having any RBA, let alone such a highly-paid expensive RBA, if they think that this is appropriate?

More to the point, this madness will be very positive for the XJO. So, now that the dust from the latest RBA decision has cleared, maybe the current XJO rally will pick up speed again.