The RBA says it’s still worried about inflation, but few believe this will mean higher interest rates | Greg Jericho

Instead of claiming demand factors are the main reason for inflation, the spotlight should be on companies' pricing decisions

Despite a new year and a new way of doing things, the thinking at the Reserve Bank remains the same - inflation is all about people having too much money to spend rather than the actions of companies which are actually the ones raising prices.

With the first Reserve Bank board meeting of the year behind us - and the first under the new arrangements where the board only meets every six weeks rather than monthly - the prospect of more rate rises looks unlikely.