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The Guardian - AU
The Guardian - AU
National
Peter Hannam

Interest rate rise: who makes the high-stakes decision and how does it get made?

RBA Philip Lowe Inflation Josh Frydenberg Labor Coalition University of Sydney
On the interest rates decision today, a former Reserve Bank of Australia board member says there has not been ‘many instances in which the board has not gone with the staff recommendation or the governor’s decision’.
On the interest rates decision today, a former Reserve Bank of Australia board member says there has not been ‘many instances in which the board has not gone with the staff recommendation or the governor’s decision’. Photograph: Steven Saphore/AAP

Philip Lowe, governor of the Reserve Bank of Australia (RBA), will preside over one of the institution’s most critical and sensitive meetings on Tuesday when his board meets to decide whether to lift the official cash rate during the election campaign.

The high-stakes decision follows last week’s spike in both core and headline inflation to their highest levels in more than 20 years.

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