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The Guardian - AU
The Guardian - AU
Business
Jonathan Barrett Senior business reporter

Inflation data isn’t all sunshine and rainbows for Labor – as Biden and Democrats will attest

Labor Inflation Jim Chalmers Angus Taylor RBA
Jim Chalmers speaking from a lectern
The treasurer, Jim Chalmers, says the Labor government is ‘focused on beating inflation and helping with the cost of living’. Photograph: Lukas Coch/AAP

The Reserve Bank of Australia is designed to be independent of government, but that does not mean its decisions do not have political consequences.

After Wednesday’s better-than-expected inflation reading, there is now broad consensus among economists that the RBA will cut interest rates next month.

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