It’s easy to dismiss Reserve Bank of Australia governor Michele Bullock’s regular appearances before Senate estimates as political point-scoring exercises, mainly because they are.
But inadvertently, the questions in Wednesday morning’s session, which came just ahead of the release of the September quarter GDP numbers at 11.30am, did underscore the central bank’s big problem: it does not have a firm grip on whether interest rates are restrictive and that won’t change in a hurry.
Source: https://www.afr.com/chanticleer/it-took-just-three-hours-for-the-rba-s-big-problem-to-be-exposed-20251203-p5nkk5