Can the RBA have its cake and eat it?

The central bank has to weigh up several conflicting forces when it comes to monetary policy at the moment. Rising house prices and the currency are just two of them.

The Reserve Bank of Australia left rates unchanged at its April board meeting and offered a firm statement that they will likely remain that way for some time. But it faces a difficult balancing act between rising house prices and a stubbornly high dollar that monetary policy may not be equipped to fight.

Monetary policy right now is a dance between rising house prices, a high exchange rate and weak business investment.

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