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The Guardian - AU

National

Patrick Commins Economics editor

The RBA governor resorts to sport cliches on interest rates while stretched Australians try to keep up with costs

RBA Australia Michele Bullock Inflation

Michele Bullock speaking behind a lectern — RBA governor Michele Bullock says the board was taking the prospect of relief for mortgagees ‘meeting by meeting’. Photograph: Dan Himbrechts/AAP

Higher inflation for longer is likely to rule out any further rate cuts, with the Reserve Bank’s latest set of economic forecasts pointing to a pretty dour 18 months ahead.

The RBA monetary policy board surprised nobody on Melbourne Cup day when it held its cash rate target at 3.6%.

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