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The Guardian - AU
The Guardian - AU
Comment
Peter Hannam

RBA surprise interest rate hike catches out seasoned pundits and borrowers alike

RBA Philip Lowe Warren Hogan Reserve Bank Inflation Westpac
A general view of the Reserve Bank of Australia headquarters in Sydney
Had the RBA been holding only eight meetings a year rather than 11 ‘we wouldn’t have had the pause’ and interest rate speculation that ensued, believes Judo’s chief economist Warren Hogan. Photograph: Flavio Brancaleone/AAP

With so many people getting it wrong about the Reserve Bank’s surprise hike in interest rates, an easy response may be not to shoot the messenger but to hire one.

Borrowers were among those caught on the hop, lulled by media reports to expect that the central bank would pause again in lifting rates, if they hadn’t peaked already.

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