A major challenge for central banks – and treasurers – is having to steer the economy down sometimes treacherous tracks using dated data, leaving them peering as much in the rearview mirror as through the windscreen.
Reserve Bank governor, Philip Lowe’s destination is getting inflation back into the central bank’s preferred 2% to 3% range without stalling the economy. On Tuesday, that plan translated into the fourth hike in the official interest rates in as many meetings.
