Nick Goodall

This has definitely brought people's expectation from, yeah, look, December might be the latest you can expect it.

But even some saying,

September monetary policy statement which is early September and there's a monetary policy review just the review not with the full statement at the end of October and then the question you know which is now going to also come about which we were going to chat about earlier but I think it's important to recognize the fact we've got an election date now too and the impact that might have on reserve banks activity you know on what the government might do if they want to stay and they did see the economy growing you know the OCR increasing won't be looked upon fondly by the government that's now the election date sorry is November 7th so that's

a week and a half after that monetary policy review in October.

The statement early September is probably a death in enough time, but potentially we do see that change.

Now, one of the other things I mentioned last week was it'll be interesting to see if Anna Bremen puts out communications about the Reserve Bank or her expectation or her take

on this CPI release.

I haven't seen anything.

So apologies if there has been something out there.

Not sure if you have or if any listeners want to link to it and let me know.

But it hasn't seemed, it hasn't seen any proactive release from the Reserve Bank or the Governor on, you know, their read of this and what their take is.

I think, you know, given what she said at the end of last year, she'll want to quell those fears of OCR increases coming too soon or increasing too fast and the impact that we've already seen on mortgage rates maybe starting to inch up.

So they'll want to keep this expectation that, you know,

Whatever is going to happen in the future for the next six months, we're still not expecting the OCR to increase.

We've got that medium term target.

We're not going to panic.

I'd be surprised if we don't see something like that at some stage.

It might not be until the first monetary policy statement next month, which is only about three weeks away.

But I think when we do hear from her, that's the rhetoric we're going to get.

And that really just backs up all of your points that you've made about why we look at the detail, what it matters.