My point is that the recent spike in inflation is mainly caused by factors from outside Australia and they will dissipate quickly. My point is: in the current circumstance the blunt interest rate policy hammer will do more damage than it repairs and this will become evident when all of the external inflation pressures dissipate and they will quicker than most people realise. See my previous post for mounting evidence already in train.
https://hotcopper.com.au/posts/61873471/single
Low interest rates per se is another issue.
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