Carrington Clarke

We have been deprived of our phones for that period because we had market sensitive information, which was this statement.

But not the rates decision.

But not the rates decision.

That's right.

We found out at exactly the same time as everybody else did that

at 2.30pm Eastern Standard Time, that the Reserve Bank has hiked interest rates.

What we did have was this 71-page statement of monetary policy.

Now, basically, this is the Reserve Bank's document.

It comes out quarterly, which updates both their view of the state of the current economic environment, but also tries to forecast where they think the economy is.

That's exactly right.

And so the nine members get this document.

They also have the opportunity over the two days of deliberations to talk to leading members of the bank about how they're deciding on these forecasts, what's underpinning them.

Last time, the vote was very close.

There's a nine-person board.

Last time, it was five votes in favor of hiking, four against.

This time, far more clear-cut, eight members of the board voting to hike interest rates.

What do you make of the decision?

Why is it so much more clear cut?

And then let's work through some of these numbers.

Now, we have heard language from the deputy governor previously.