The Reserve Bank doesn't know what it's doing
July 5, 2022
15 min
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804 of 2,041
Episode 729 · July 5, 2022
The Reserve Bank doesn't know what it's doing
0:00 / 15:55
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15:55This episodeThe Reserve Bank doesn't know what it's doing
Summary
<p>Yesterday afternoon, the Reserve Bank of Australia lifted rates for the third time in three months – raising the cash rate by a full 50 basis points to 1.35%.</p><p>The rise will lift interest rates to their highest levels in years and put more pressure on household budgets, but it’s something the RBA says is necessary to bring down inflation.</p><p>However, the RBA’s decision comes just as questions are being asked about how the institution is working, and whether it’s acted too slowly in the past.</p><p>Today, national correspondent for <em>The Saturday Paper</em> Mike Seccombe on why the Reserve Bank is so secretive, and the push to change it.</p><p><br /></p><p><strong>Guest:</strong> National correspondent for <em>The Saturday Paper</em>, Mike Seccombe.</p><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>
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