Next RBA interest rate decision

From the statement: The Board recognises that monetary policy operates with a lag and that the full effect of the cumulative increase in interest rates is yet ...

And that’s one of the reasons why the government is responding as we are with the safeguard mechanism to provide that certainty for business to invest going forward. And it is true that inflation is a global phenomenon that has arisen because of because of supply chain issues that occurred during the global pandemic. It highlighted for me the glory and sanctity of marriage in Australia. The Speaker of the house, Milton Dick, introduced Ley “with some nervousness” as she came to the dispatch box in a frizzy-haired wig and a black dress, just before question time today. Our assessment is that inflation opposite is likely to have peaked around the end of 2022. Fortunately, in Australia, we have some structures, thanks in part to the reforms of the Hawke and Keating government that do ensure that we’re connected with the global economy and the RBA governor had this to say ‘most advanced economies are in a similar position to Australia and have responded with higher interest rates in some cases to a level substantially higher than that in Australia. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that. The Board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary. The Board recognises that monetary policy operates with a lag and that the full effect of the cumulative increase in interest rates is yet to be felt in mortgage payments. That Labour has real lasting plans for cheaper electricity, cheaper mortgages, but the Courier Mail reports that this cost of living crisis is forcing Queensland families Queensland families Prime Minister to pay an extra $1,100 a month on food, groceries, energy bills and mortgages. Another source of uncertainty is how the global economy responds to the large and rapid increase in interest rates around the world. The Board’s priority is to return inflation to target.