If Michele Bullock learnt anything from her benighted predecessor, Philip Lowe, is that it’s wise to keep the Reserve Bank’s interest rate options open as long as possible.
Lowe got pilloried for stating as late as the end of 2021 that the central bank might keep its cash rate at its record low 0.1% until 2024. Qualified as they were that conditions could change, the view looked ridiculous half a year later when the RBA began its steepest rate hike series in three decades.
