Sharon Zollner

Yes.

Did we talk about this before?

No, you didn't talk about it with me.

But it's one of the top features.

I haven't actually seen the range, but yeah, it does seem clear that the economy did bounce quite a bit.

Actually, it looks like the economy had more momentum than we thought before the rug was rudely pulled out from under us.

It's been a weird time for data.

And so far as the data that's continued to come out about what was happening before COVID,

The Middle East conflict breakout has been stronger than expected.

But then the very most recent data for May has started to suggest that some of the shock has been wearing off.

And now, of course, well, who knows?

We've got this memorandum of understanding and oil prices have dropped sharply.

So it's been a pretty volatile time.

Well, why wouldn't we, really?

I mean, yes, interest rates are a little bit higher and there could absolutely be some wariness that will persist globally, I think.

But even if you just charted against petrol prices, it's pretty strong.

So everybody hates inflation, which I guess at the end of the day is why we introduced inflation targeting to solve that problem.

But at the moment, a lot of households are financially going backwards, so it makes perfect sense that they're not very happy, particularly low-income households who do spend a lot of their income on food and fuel.

That is, they sounded more ready to hike.

rates over there this year than the market was expecting.