The governor of the Reserve Bank, Michele Bullock, was at pains on Tuesday afternoon to not give any guidance on what might happen with interest rates. But it did not take a lot of reading between the lines to discern that she thinks the economy is doing well enough that the RBA could pack up its kit bag and go home.
Bullock did not rule out another rate cut, but unlike previous months, she didn’t even seem to wish to talk about whether or not the RBA monetary policy board had an “easing bias” – where the members think a rate cut in the future is more likely than not.
