Carrington Clarke

The flip side, and I guess probably the counterfactual that some of those economists are working on, is that the rise in fuel costs is already a handbrake on spending.

We have consumer sentiment about as low as it has been.

We've got this handbrake on consumer spending.

The costs that are coming are from a supply problem, not from a demand, there's too much money in the economy problem.

So it will be fascinating to see the decision they come to, how close the votes are, if there's differing sides of the argument here about whether getting 40% of Australians who have large housing debt and another 30% who rent and

whose rents are subject to mortgages, so many of them will go up as well, having them ship more money to their banks every month to pay off housing debt will lower inflation.

Or if the inflation is baked in from other things, far beyond their control, from a conflict literally on the other side of the world, they can't affect as Australian consumers.

And whether all of those costs are actually going to

crimp spending so much that inflation tempers itself.

And the RBA has a tough job.

They try and maintain what they call full employment.

They are trying to keep inflation under control.

And given that, last time I checked,

They have been in the target band that between 2% and 3% for just one in five of their past 40 meetings gives you a sense of how difficult that task is to keep inflation where they say they want it.

The votes aren't linked to people.

We don't know which way different members go.

That's because this is Australia and we're not that into accountability.

There's probably... Oh, you're so sensible.

Yes.

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