The Reserve Bank is stumbling in the dark

A poor track record in establishing the economic backdrop for its decisions is the biggest reason the Reserve Bank should hold off cutting rates – and not only this month.

There’s a growing chorus of opinion – noting editorial in The Australian and financial press elsewhere – that the Reserve Bank should be done with cutting rates and start to show some restraint. I’ve long thought this easing cycle to be reckless and unnecessary, even counterproductive, and so I obviously view this rising tide as a positive for the national interest.

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