Peter Tulip
The August SMP projected the cash rate to rise to 3% by end-2022, then decline by end-2024. This path is too low. The RBA expects it will deliver underlying inflation above the target range and unemployment below the NAIRU throughout the forecast horizon. A higher path of interest rates would move both these variables closer to their targets, so is unambiguously preferable. Moreover, I am sceptical of forecasts that inflation will quickly return to target while U<NAIRU.
Outcome date:
Tuesday 06 September 2022
Current rate:
12 months:
6 months:
Surname:
Tulip
3 Years:
Updated: 12 November 2024/Responsible Officer: Crawford Engagement/Page Contact: CAMA admin