The RBA hoped this year’s three interest rate rises would tame inflation – but nothing is going their way
by Patrick Commins Economics editor from World news | The Guardian on (#7895S)
The breakdown of the US-Iran ceasefire, rising oil prices and the explosion in data centre investment are making the central bank's task harder
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For five years the Reserve Bank has been trying to wrangle inflation back to its 2.5% target, and for years it has essentially failed.
The result is a cost of living crisis that has generated intense community grievance.
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