DJ/WSJ with some comments from Ian Harper, the Reserve Bank of Australia board member says he expects the next Bank rate move to be a hike
Cites:
- jobs growth
- strong budget
indicating a strong economy.
(h/t @kit_lowe on twitter. No relation to Philip AFAIK. )
Most folks, when they go to work they have a job to get done. The RBA has two jobs, referred to as their mandate. In a nutshell:
- full employment - jobs market growth has been giving them a pass on this one, kudos t the extent they have an influence.
- stable prices, which the RBA sets out as core inflation between 2 and 3 percent. No kudos on this part, the Bank has been undershooting this for years now, despite always predicting (they call it forecasting) inflation to climb.
Most folks when they go to work if they only do half their jobs they are shown the door.
