The quarterly CPI was out yesterday and it was bad. Principally because of petrol prices and rents but electricity prices were there too. Gee Thanks Tony for getting rid of the ETS.
In any other time the RBA would not raise rates because of petrol prices but these are not ordinary times. They cannot take the chance a one-of rise gets into expectations.
It has to be 'tough' and reduce expectations and so thus it must raise rates perhaps for the last time. We can only hope.
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