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AAP
AAP
Business
Kat Wong and Jacob Shteyman

Rates revelation: why RBA dissenter voted against hike

Consumer sentiment bounced back slightly following the federal budget, according to surveys. (Bianca De Marchi/AAP PHOTOS)

The Reserve Bank's lone dissenter against a rate rise argued interest rates were already high enough to get inflation back under control, before being overruled by the rest of the central bank's board.

Minutes of the May 5 meeting, released on Tuesday, revealed the reasons why that one board member voted to keep the cash rate at 4.1 per cent as the other eight members voted for a third straight hike.

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