The Reserve Bank’s decision to keep rates steady reinforced that the economy at this moment remains one with both good and bad signs, and the RBA governor, Michele Bullock, is refreshingly upfront about the difficulties.
Unsurprisingly, the RBA’s call to keep rates unchanged was met by some in the media and conservative commentariat as a failure to be tough. Some would prefer the RBA to be less concerned about the risk of a recession or rising unemployment than getting inflation from 3.6% to below 3%.
