Carrington Clarke

There is there's reasons why they don't.

There are reasons why you could actually say, look, you know, this is why they think it is.

You know, actually, we do have actually better accountability than we ever did after a large scale review of the RBA a few years ago.

And Michelle Bullock now holds a press conference afterwards where people like Carrington can go and ask impertinent questions, which is always fun and does actually give some insight.

They were late last time.

Inflation got away for them.

They were late.

They won't be late again.

They are an inherently conservative organisation.

However, they are more concerned about inflation than anything else.

The way that Michelle Bullock and the previous Governor Philip Lowe talk about inflation is almost biblical, like a great evil.

And it does sap everyone.

It saps the purchasing power of everyone from rich to poor.

So whilst they acknowledge that hiking interest rates has a disproportionate effect on people who are in those middle years,

family formation, housing debt, and it has generally, generally, a beneficial impact on older people who have assets, who have savings, who get more money from those savings when interest rates go up.

They're aware of that, but they also...

Essentially, they never say the words, I don't care.

But what they do say is, this is the lever we've got.

This is the lever we've got, and it's the only one we can pull.

There are lots of things government can do, and government are not that into doing them.