For nearly a decade the RBA has declared its devotion to the inflation target while repeatedly postponing the hard actions required to reach it.
The Reserve Bank of Australia is sounding a little like Saint Augustine. Augustine, wrestling with his own contradictions, famously prayed: “Give me chastity and continence – but not yet”.
The RBA’s version is monetary, not moral: “Give me price stability – but not yet.”
Source: https://www.afr.com/policy/economy/michele-bullock-is-repeating-philip-lowe-s-rba-inflation-failure-20251120-p5ngy1