The RBA kept interest rates on hold as they should have.
Inflation is falling ( when are we getting a monthly CPI with full data set the quarterly CPI has?), the economy is clearly slowing, various surveys have inflation slowing as well.
Putting rates on hold until next month when they wil know the quarterly CPI results makes sense.
It makes no sense at all for the RBA to put rates up too far and thus have to cut rates quite early as well. Indeed if that occured it would show the RBA has little idea of what they are doing! My old mate Peter Martin has a good article on what the RBA wil ldo.
Finally who should succeed Philip Lowe as he should not be reappointed for reasons we have given in the past.
David Gruen is very much the best candidate, He is currently the head of the ABS. He has worked for both Treasury and the RBA and is very easily the most intelligent man I have ever met. I do think the ALP will choose Jenny Wilkinson currently head of the finance department. Why? She is a female.
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