Alan Kohler: The RBA is fighting for its purpose … and its life

Let’s have a sort of “upper-level extension” to the fight against inflation, writes Alan Kohler.

Next week’s rate hike will be both remarkable and unremarkable; the ninth in as many meetings, but fully expected.

But the air around the Reserve Bank and monetary policy is more charged than it has been in decades – not only is the house at Martin Place about to be renovated, the basis of monetary policy itself is on the line.