The fact is the RBA has been off the pace in terms of forecasts, and strategy, and as a result they are not lifting rates into a slowing economy to try to tackle inflation which they partly created.
In addition, the latest Statement on Monetary Policy shows real wages are set to decline over the next couple of years, while overall growth will decline, despite a (artificially) low unemployment rate.
Time for a proper review of the RBA – how do we make the Governor and his team more accountable. Being embarrassed is not enough!
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