Thats funny I was about to post 'sack the rba'. Why would the rba put up interest rates when the current inflation is due to rising energy prices which effects every part of the economy. Interest rate hikes will not control this type of inflation/energy prices.. Business and the consumer are already on their knees not that the rba would understand from their ivory tower ,there about to chop the heads off both. The rba has a track record of economic distrc=uction from rba quote 'careful what you wish for' regarding the call by industry to reduce the AUD from $1.05 ,then maybe 12 months later the same rba was saying at approx .95 the AUD was still to high.rba said a high dollar was good for overseas travel and cheap imports. The rba has full control of lending stds,they should never have let banks lend 100% on home loans,it never made any sense.etc etc. Both the US fed and rba have a history of stuffing up economic policy which we already have our govts employed to do.
