Carrington Clarke

But she said there hasn't been a material impact on spending or an investment.

Now, as you say, most of that investment seems to be about data centers, which don't seem to be particularly sensitive to interest rates.

And she points out that the three rate hikes the Reserve Bank has imposed are

haven't washed through completely through the economy.

And not even getting close.

The governor was asked to buy into some political debates, including the fuel excise cut lapsing at the end of this month.

It seemed pretty obvious to me, watching her from a distance, that she did not want to engage in that question at all and kind of said, oh, there's lots of

things at play, we don't have a particular view, and that the Reserve Bank will kind of look through the noise of excise cuts.

What was your take in the room?

Do you think they do have a view on whether or not this excise cut should continue, or does it really not matter when it comes to their calculations?

You point out that the Reserve Bank is just a relatively small player in a big global market.

We have had some decisions made by other central banks over the last couple of weeks.

The European Central Bank hiking rates last week

citing higher inflationary pressures.

They said this isn't just preventative.

They're actually seeing flow through from higher energy prices into other parts of the economy now.

They're trying to also get ahead of it.

And now Japan.

Meanwhile, we've also got the Federal Reserve meeting in the United States.

Kevin Walsh, the Donald Trump handpicked successor to Jerome Powell, who will still be helping to decide what happens with interest rates.