Opinion
RBA’s credibility at risk as central banks confront interference
Alleging neutrality while considering lifting rates seems contradictory.
Christopher JoyeColumnistThe contradictions in the Reserve Bank of Australia’s communications reveal policy conflicts that could erode its already embattled credibility.
Following the release of its May board statement, analysts proclaimed that the central bank had retained its “neutral” posture and not considered lifting rates despite a 96th percentile upside surprise to its inflation and employment forecasts.
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