RBA holds interest rates steady, and homeowners breathe a sigh of relief — but for how long?
1 year, 5 months ago

RBA holds interest rates steady, and homeowners breathe a sigh of relief — but for how long?

ABC  

The RBA has left its cash rate target unchanged at 4.1 per cent — and home owners aren't the only ones breathing a sigh of relief. In the final paragraph of the Reserve Bank governor Philip Lowe's statement on Tuesday he said: "Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable time frame, but that will depend upon how the economy and inflation evolve." Reserve Bank keeps rates steady for July, at 4.1 per cent Photo shows An image of the Reserve bank sign in Martin Place, Sydney The Reserve Bank says rates will remain on hold for July at 4.1 per cent, but more rate hikes could be coming. "Today's rate pause is sure to be a welcome breather for many mortgage holders and provides some certainty for family budgets especially over the school holidays," NAB Home Ownership executive Megan Bond said.

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History of this topic

RBA forecast scenarios include interest rate hikes
1 week, 4 days ago

RBA forecast scenarios include interest rate hikes

ABC  

Samantha Donovan: To interest rates now, and while most analysts think another hike is highly unlikely, the Reserve Bank has indicated today nothing will be off the table next year when it comes to monetary policy. David Taylor: Betashare's chief economist, David Bassanese, says the Reserve Bank also has to factor in higher levels of government spending and how that's …

RBA leaves cash rate at 4.35pc, acknowledging it's 'restrictive,' while ASX loses ground — as it happened
1 month, 2 weeks ago

RBA leaves cash rate at 4.35pc, acknowledging it's 'restrictive,' while ASX loses ground — as it happened

ABC  

Here are some highlights from the RBA Board's statement. Underlying inflation remains too high: "Inflation has fallen substantially since the peak in 2022, as higher interest rates have been working to bring aggregate demand and supply closer towards balance. "Headline inflation was 2.8 per cent over the year to the September quarter, down from 3.8 per cent over the year …

Review finds 'no evidence' gunshots were deliberately edited into commando footage — as it happened
Trending News
1 month, 2 weeks ago

Review finds 'no evidence' gunshots were deliberately edited into commando footage — as it happened

ABC  

Treasurer Jim Chalmers answers a questions on the RBA interest rates. Member for Macquarie, Susan Templeman, asks: "What does the decision taken today by the Reserve Bank mean for Australians and what progress is being made in the fight against inflation and how does this compare to other approaches?" "Secondly, it reflects the progress that we are making together in …

The RBA expects to keep interest rates on hold. It's bad news for mortgage holders and a reality check for the government
4 months, 2 weeks ago

The RBA expects to keep interest rates on hold. It's bad news for mortgage holders and a reality check for the government

ABC  

It was the understatement of the week. When Reserve Bank governor Michelle Bullock popped the bubble of anticipation around an interest rate cut any time soon, she acknowledged "this is not what people want to hear". The idea of a rate cut before the end of the year "doesn't align" with the RBA board's current thinking. "I think it's hard …

The RBA says don't expect interest rate cuts for six months. Here's why it could be sooner
4 months, 2 weeks ago

The RBA says don't expect interest rate cuts for six months. Here's why it could be sooner

ABC  

Days ago, at the start of last week, there was talk of a Reserve Bank rate hike. So despite what the Reserve Bank governor said on Tuesday, here's why so many people expect interest rates will have to come down — possibly sooner than predicted. It was 3.6 per cent by March, then 3.8 per cent in June, and will …

RBA's Michelle Bullock says no cuts expected in next six months after leaving interest rates on hold
4 months, 2 weeks ago

RBA's Michelle Bullock says no cuts expected in next six months after leaving interest rates on hold

ABC  

The Reserve Bank of Australia has kept interest rates on hold at 4.35 per cent. "Financial markets have been volatile of late and the Australian dollar has depreciated," the RBA Board said in a statement. "In doing so, it will continue to pay close attention to developments in the global economy and financial markets, trends in domestic demand, and the …

With rates on hold again, the government and the public hold their breath. What comes next?
4 months, 2 weeks ago

With rates on hold again, the government and the public hold their breath. What comes next?

ABC  

The Reserve Bank's decision to leave interest rates unchanged is the latest in a series of fizzers. RBA governor Michele Bullock did take the unusual step of telling us we should not expect a rate cut in the next six months, taking us out to at least February next year. RBA Board keeps interest rates at 4.35 per cent Photo …

Why property and stock markets are thumbing their noses at rate hikes
5 months, 3 weeks ago

Why property and stock markets are thumbing their noses at rate hikes

ABC  

This time it's different. Photo shows RBA governor Michele Bullock at press conference Rate rise after rate rise should have sent the economy into a tailspin, but the RBA isn't fighting a textbook case of inflation. And it's seen central bankers scrambling to try to nut out just why developed economies aren't reacting to interest rate hikes the way they …

'RBA to hike in August', says investment bank as property market pushes on up
5 months, 3 weeks ago

'RBA to hike in August', says investment bank as property market pushes on up

ABC  

In short: The Australian property market will remain robust this year and next, according to several analysts. Australian property prices are expected to increase by as much as 5 per cent in calendar year 2024, according to the June PropTrack Property Market Outlook Report. "We got capital cities a little stronger at 6 to 7 per cent for the 2024 …

RBA's 'narrow path' gets narrower with an interest rate rise more likely than a cut
6 months ago

RBA's 'narrow path' gets narrower with an interest rate rise more likely than a cut

ABC  

You could see, hear and feel the pressure on Reserve Bank boss Michele Bullock at yesterday's press conference, held after an angst-filled decision to do nothing. Before being peppered with questions, the RBA governor prefaced the discussion by outlining the "complex" economic dilemma the bank's board confronts. "I think the RBA probably should have increased rates a little bit further, …

RBA keeps interest rate at 4.35 per cent, says rate rise could be on cards as governor says she's not expecting a recession in Australia
6 months ago

RBA keeps interest rate at 4.35 per cent, says rate rise could be on cards as governor says she's not expecting a recession in Australia

ABC  

The Reserve Bank has kept interest rates on hold at 4.35 per cent. "Inflation has fallen substantially since its peak in 2022, as higher interest rates have been working to bring aggregate demand and supply closer towards balance," the Board said. RBA governor warns the narrow path is 'getting a bit narrower,' but doesn't expect a recession The RBA board …

Inflation eases in May, but major relief on interest rates not coming soon
6 months, 1 week ago

Inflation eases in May, but major relief on interest rates not coming soon

LA Times  

Federal Reserve Chair Jerome H. Powell and his colleagues at the central bank have kept interest rates at a more than 20-year high to fight inflation. The Federal Reserve has raised interest rates to the highest level in more than two decades to fight inflation, and on Wednesday policymakers said the fight wasn’t over. “But we don’t see ourselves as …

High US interest rates forever: Do not count on this scenario
6 months, 3 weeks ago

High US interest rates forever: Do not count on this scenario

Live Mint  

In spite of the highest Federal Reserve policy rates in two decades, the US economy grew about 2.5% last year, unemployment remains low and stocks are near all-time highs, leading many observers to conclude that the economy has become less interest-rate sensitive—and probably needs permanently high benchmark rates to prevent overheating. Once inflation had been beaten, economists assumed that policy …

RBA Sees Some Households Struggling, Suggesting Rate-Hike Limits
6 months, 3 weeks ago

RBA Sees Some Households Struggling, Suggesting Rate-Hike Limits

Live Mint  

-- Australia’s inflation is showing persistent strength and weighing heavily on the finances of some households, a senior Reserve Bank official said, highlighting the limits to further interest-rate increases. “The board are absolutely focused on the fact that inflation is clearly still above the target band,” RBA Assistant Governor Sarah Hunter said at a conference in Sydney on Thursday, referring …

RBA should now 'in theory' hike interest rates in June, but will it?
6 months, 3 weeks ago

RBA should now 'in theory' hike interest rates in June, but will it?

ABC  

Inflation is rising again, and that's a problem for both the government and the Reserve Bank. The annual rate of inflation has ticked up slightly in April to 3.6 per cent, from 3.5 per cent in March, but economists say it's enough to put even more pressure on the Reserve Bank. "At the moment consumers are the ones copping all …

Inflation rises slightly in April to 3.6pc but economists say that should ring 'alarm bells' for RBA
6 months, 3 weeks ago

Inflation rises slightly in April to 3.6pc but economists say that should ring 'alarm bells' for RBA

ABC  

In short: The annual rate of inflation ticked up to 3.6 per cent in April, from 3.5 per cent in March. According to the Australian Bureau of Statistics, an underlying measure of inflation — called "trimmed mean" inflation — also picked up again in April, from 4 per cent to 4.1 per cent. "It does not appear that the RBA …

The Reserve Bank's interest rate dilemma: Households are hurting but inflation remains stubbornly high
7 months, 2 weeks ago

The Reserve Bank's interest rate dilemma: Households are hurting but inflation remains stubbornly high

ABC  

Please make it stop. That's what Michele Bullock must say to herself after RBA board meeting days, when journalists conjure a dozen different ways to ask the same question — what's going to happen with interest rates? Over the past year, the inflation rate for discretionary goods and services has been within the RBA's 2-3 per cent target band, at …

'Too soon to declare victory' as RBA governor Bullock says she can't rule out another rate rise
7 months, 2 weeks ago

'Too soon to declare victory' as RBA governor Bullock says she can't rule out another rate rise

ABC  

In short : Interest rates have been kept steady, at 4.35 per cent. RBA does not want to tip economy into recession, Bullock says On Tuesday, Governor Bullock said when the RBA lifted rates in November, from 4.1 to 4.35 per cent, it was "taking out a little insurance." The RBA's preferred "core" measures of inflation, such as the trimmed …

RBA keeps interest rates on hold at 4.35pc but says 'it will be some time' before inflation within target band
9 months ago

RBA keeps interest rates on hold at 4.35pc but says 'it will be some time' before inflation within target band

ABC  

The Reserve Bank has left interest rates on hold amid signs that growth in the economy has dramatically slowed down following 13 interest rate rises since May 2022. The cash rate remains at 4.35 per cent, and while the central bank gave no clear indication of where it was headed next, saying it was "not ruling anything in or out", …

Economists predict RBA's next rates move will be a cut, but stage 3 tax cuts muddy the timetable
10 months ago

Economists predict RBA's next rates move will be a cut, but stage 3 tax cuts muddy the timetable

ABC  

In short: Westpac's CEO has joined senior economists in predicting that the next interest rates move by the Reserve Bank will be a cut to the cash rate. Westpac's CEO has joined senior economists in predicting that the next interest rates move by the Reserve Bank will be a cut to the cash rate. The Reserve Bank board says "a …

RBA keeps interest rates steady at 4.35 per cent
10 months, 2 weeks ago

RBA keeps interest rates steady at 4.35 per cent

ABC  

The Reserve Bank has left interest rates on hold at its first meeting of the year after inflation fell by more than expected towards the end of 2023. Inflation easing, but global outlook is highly uncertain In its post-meeting statement, the RBA board said inflation had clearly eased but it was still high at 4.1 per cent. "At 4.1 per …

RBA leaves interest rates unchanged at 4.35pc after first meeting of the year, ASX ends lower — as it happened
10 months, 2 weeks ago

RBA leaves interest rates unchanged at 4.35pc after first meeting of the year, ASX ends lower — as it happened

ABC  

The Reserve Bank has released its latest forecasts for the economy. While lowering its inflation forecasts to reflect the latest December quarter Consumer Price Index, which came in well below its previous expectations, it appears to be wedded to its view that services inflation is sticky and will take a long time to tame. The RBA has taken 0.6 of …

Fed’s Powell notes inflation is easing but downplays discussion of interest rate cuts
1 year ago

Fed’s Powell notes inflation is easing but downplays discussion of interest rate cuts

Associated Press  

WASHINGTON — Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said Friday. Nor is it time to “speculate on when policy might ease,” Powell said, referring to the possibility of cuts in the Fed’s benchmark interest rate, which affects many consumer and business …

Michele Bullock says RBA 'will not hesitate' to increase rates if inflation takes longer than expected to return to target
1 year, 2 months ago

Michele Bullock says RBA 'will not hesitate' to increase rates if inflation takes longer than expected to return to target

ABC  

Reserve Bank of Australia governor Michele Bullock says the central bank "will not hesitate" to increase the cash rate over fears inflation could take longer to return to target than its current "late 2025" forecast. Key points: The RBA has left the cash rate on hold at 4.1 per cent since June as inflation began to ease But governor Michele …

Reserve Bank unlikely to lift rates in October despite inflation uptick as more households brace for mortgage cliff
1 year, 2 months ago

Reserve Bank unlikely to lift rates in October despite inflation uptick as more households brace for mortgage cliff

ABC  

A "slight uptick" in inflation is unlikely to see the Reserve Bank lift rates at its October meeting, but more than half a million households facing the looming fixed-rate mortgage cliff are being warned to brace for higher repayments. Key points: An increase in August inflation data is unlikely to see the RBA lift rates next week but it could …

The Federal Reserve holds interest rates steady but hints at more action this year
1 year, 3 months ago

The Federal Reserve holds interest rates steady but hints at more action this year

NPR  

The Federal Reserve holds interest rates steady but hints at more action this year Enlarge this image toggle caption Saul Loeb/AFP via Getty Images Saul Loeb/AFP via Getty Images The Federal Reserve left interest rates unchanged Wednesday, but signaled that it's open to an additional rate hike, if necessary, to combat stubborn inflation. Sponsor Message Economic projections released Wednesday show …

Reserve Bank leaves interest rates on hold in a major win for millions of homeowners in one of Philip Lowe's final acts as governor
1 year, 3 months ago

Reserve Bank leaves interest rates on hold in a major win for millions of homeowners in one of Philip Lowe's final acts as governor

Daily Mail  

The Reserve Bank has left interest rates on hold at an 11-year high of 4.1 per cent for the third straight month. Since peaking at 8.4 per cent late last year, the monthly measure of annual inflation has moderated, falling back to 4.9 per cent in July, the lowest level since February 2022, from 5.4 per cent in June. But …

RBA leaves interest rates on hold at 4.1 per cent after Philip Lowe's last meeting as governor
1 year, 3 months ago

RBA leaves interest rates on hold at 4.1 per cent after Philip Lowe's last meeting as governor

ABC  

The Reserve Bank has kept interest rates on hold at 4.1 per cent for the third month straight, but has flagged further increases may be needed to ensure inflation remains under control. Key points: The RBA has not lifted interest rates since June, when the cash rate target rose to 4.1 per cent But the central bank says future rate …

The RBA says the fight against inflation has entered a new phase. Here's what it means for interest rates
1 year, 4 months ago

The RBA says the fight against inflation has entered a new phase. Here's what it means for interest rates

ABC  

Australia has entered a new frontier in its fight against inflation after the Reserve Bank left interest rates on hold at 4.1 per cent for the second month in a row at its August meeting. It comes back to the fact the RBA's cash rate is only a benchmark — and it's only part of a more complicated puzzle used …

The five factors that will determine when the interest rate pain for households will end
1 year, 6 months ago

The five factors that will determine when the interest rate pain for households will end

ABC  

At some point the Reserve Bank will stop lifting interest rates and begin easing its monetary policy. Rising wage increases and higher productivity The size of our pay packets is crucial to the Reserve Bank's thinking on the direction of interest rates. The RBA's view is that wages growth — which is currently just under 4 per cent — is …

The Fed has paused. How long will Europe's central bank keep raising rates in a shaky economy?
1 year, 6 months ago

The Fed has paused. How long will Europe's central bank keep raising rates in a shaky economy?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

RBA forecasts harsher short-term pain for longer term gain
1 year, 7 months ago

RBA forecasts harsher short-term pain for longer term gain

ABC  

The latest Reserve Bank economic outlook brings both bad and good news for Australians. Economic growth over the year to June is expected to be just 1.7 per cent, more than half a percentage point lower than was forecast just three months ago. The RBA had expected workers to enjoy a 4.7 per cent jump in their hourly pay rates …

RBA boss Philip Lowe defends shock interest rate rise, saying 'there is a limit' to inflation patience
1 year, 7 months ago

RBA boss Philip Lowe defends shock interest rate rise, saying 'there is a limit' to inflation patience

ABC  

Just a month after the Reserve Bank of Australia kept rates on hold — to assess the economic fallout from an unprecedented string of 10 consecutive rate hikes — on Tuesday afternoon it shocked most experts with another rise. Key points: The RBA raised interest rates from 3.6 to 3.85 per cent RBA governor Philip Lowe says inflation needs to …

Reserve Bank hikes cash rate to 3.85 per cent, ASX hits three-week low, Qantas appoints new CEO to replace Alan Joyce
1 year, 7 months ago

Reserve Bank hikes cash rate to 3.85 per cent, ASX hits three-week low, Qantas appoints new CEO to replace Alan Joyce

ABC  

Here are some comments from Callam Pickering, an economist at global job site Indeed. He's just put out this note on the rate decision, which I think is worth quoting in full: "The flow of recent economic data provides a compelling case for further rate hikes,” he said. "The RBA anticipates that further rate hikes may well be needed to …

RBA governor Philip Lowe says pause 'does not imply that interest rate increases are over'
1 year, 8 months ago

RBA governor Philip Lowe says pause 'does not imply that interest rate increases are over'

ABC  

The Reserve Bank boss has warned households to brace for more interest rate pain, especially if businesses keep putting up prices or workers demand bigger pay rises. Key points: RBA governor Philip Lowe says further rate rises "may well be needed" to tame inflation Mr Lowe says household spending is slowing significantly The RBA is concerned large increases in either …

Reserve Bank interest rate pause welcomed by mortgage borrowers as Lifeline prepares to meet with governor Philip Lowe
1 year, 8 months ago

Reserve Bank interest rate pause welcomed by mortgage borrowers as Lifeline prepares to meet with governor Philip Lowe

ABC  

Mortgage holders and support services have welcomed the Reserve Bank's decision to pause months of interest rate rises amid surging living costs, mortgage repayments, and more young people experiencing financial distress and accessing support services for the first time. Key points: The RBA kept the cash rate on hold at 3.6 per cent during its April meeting The central bank …

RBA leaves interest rates on hold as it waits to see impact of previous increases
1 year, 8 months ago

RBA leaves interest rates on hold as it waits to see impact of previous increases

ABC  

The Reserve Bank has given mortgage borrowers a reprieve, at least temporarily, by leaving interest rates on hold at Tuesday's board meeting. Key points: The RBA has held interest rates steady after 10 consecutive rate rises The cash rate target remains at 3.6 per cent RBA governor Philip Lowe said further rate rises "may well be needed" to tame inflation …

We're dealing with a particularly nasty form of inflation, and a pause in rate hikes is unlikely to mean the end of hip pocket pain
1 year, 8 months ago

We're dealing with a particularly nasty form of inflation, and a pause in rate hikes is unlikely to mean the end of hip pocket pain

ABC  

Tuesday's Reserve Bank interest rate decision will be what's called a "live" decision. While not in the Reserve Bank's "charter", maintaining an inflation target of between 2 and 3 per cent "on average, over time" has been critical to the Reserve Bank's thinking on interest rates since the early 1990s. Sure, the RBA may be able to pause its interest …

RBA governor Philip Lowe says interest rate 'pause closer' with 'open mind' based on data
1 year, 9 months ago

RBA governor Philip Lowe says interest rate 'pause closer' with 'open mind' based on data

ABC  

The Reserve Bank governor has indicated that the board is considering a pause after 10 consecutive interest rate rises, but the timing would depend on incoming economic data. Key points: The RBA says it is "closer to the point where it will be appropriate to pause interest rate increases" Philip Lowe says "further tightening of monetary policy is likely to …

Why RBA interest rate hikes could end by September – but brace for at least one more
1 year, 9 months ago

Why RBA interest rate hikes could end by September – but brace for at least one more

ABC  

Tuesday's 10th successive Reserve Bank interest rate hike is the culmination of a process that has added $1,080 to the monthly cost of payments on a $600,000 variable mortgage. I've calculated this increase in payments — which amounts to $12,960 per year — by comparing payments on the National Australia Bank's base variable mortgage rate before the Reserve Bank started …

RBA boss Philip Lowe says rate rises hurting households, indications are they will go higher
1 year, 10 months ago

RBA boss Philip Lowe says rate rises hurting households, indications are they will go higher

ABC  

Reserve Bank governor Philip Lowe has given a strong indication more interest rate rises are on the cards despite nine back-to-back rises causing many households significant pain and leaving them struggling to make repayments on their mortgages. Key points: The RBA governor says interest-rate rises are hurting many households But he says inflation is too high and that means more …

Home, car loan EMIs set to rise again as RBI hikes interest rate by 25 BPS to 6.5%
1 year, 10 months ago

Home, car loan EMIs set to rise again as RBI hikes interest rate by 25 BPS to 6.5%

India TV News  

RBI interest rate: The Reserve Bank of India, on Wednesday, announced to hike the interest rate by 25 BPS to 6.5%, citing sluggish core inflation. RBI Governor Shaktikanta Das, who also announced the bi-monthly monetary policy, said that the Monetary Policy Committee unanimously resolved to hike the policy repo rate by 25 basis points and keep a "strong surveillance" on …

Interest rate updates: Philip Lowe says RBA will 'do what is necessary' to curb inflation as cash rate reaches highest level since September 2012 — as it happened
1 year, 10 months ago

Interest rate updates: Philip Lowe says RBA will 'do what is necessary' to curb inflation as cash rate reaches highest level since September 2012 — as it happened

ABC  

Question for Gareth please If, as all economists state, the reason for rate rises is to curb inflation by inhibiting consumer spending, why doesn’t the government give he RBA the power to adjust the GST rate. This would surely impact consumer spending across the board to share the pain, could be targeted by exempting non discretionary expenditure and would have …

European Central Bank hikes rates, vows ‘we are not done’
1 year, 10 months ago

European Central Bank hikes rates, vows ‘we are not done’

Associated Press  

FRANKFURT, Germany — The European Central Bank chugged ahead with another outsized interest rate hike Thursday and vowed more will follow, underlining its drive to subdue inflation even as the economy slows and the U.S. Federal Reserve eases its pace of increases. The bank, which also hiked by a half-point in December, “will stay the course in raising interest rates …

With another interest rate rise this week, will the RBA put the handbrake on in 2023?
2 years ago

With another interest rate rise this week, will the RBA put the handbrake on in 2023?

ABC  

As we approach year's end, the question on home loan borrowers' minds is will there be more interest rate rises next year? He also indicated more interest rate rises could be on the cards, with the headline rate of inflation still well above the Reserve Bank's 2 to 3 per cent target range. Forecasts for February rate rises are mixed …

RBA governor Philip Lowe warns Australians to brace for higher inflation, lower growth
2 years, 1 month ago

RBA governor Philip Lowe warns Australians to brace for higher inflation, lower growth

ABC  

Don't expect much of a pay rise, even as inflation soars and reduces what you can buy with your wages. Key points: RBA governor Philip Lowe says globalisation helped central banks keep price rises low and stable over the past three decades Increasing trade restrictions and global conflict are reversing this process and risk reduced supply and higher prices Mr …

Reserve Bank' admits higher interest rates WON'T bring down inflation
2 years, 1 month ago

Reserve Bank' admits higher interest rates WON'T bring down inflation

Daily Mail  

The Reserve Bank has admitted hiking interest rates aggressively doesn't necessarily bring down inflation quickly. Australia inflation grew by 7.3 per cent in the year to September at levels unseen since 1990 The Reserve Bank's statement on monetary policy released earlier this month forecast annual inflation remaining above its target until 2025, after falling to 3.25 per cent in December …

Bank profits jump but rising interest rates are a double-edged sword
2 years, 1 month ago

Bank profits jump but rising interest rates are a double-edged sword

ABC  

Australia's big banks have raked in nearly $30 billion in 2022, but they are facing a tougher 2023, as some borrowers struggle with higher mortgage repayments as interest rates soar. Key points: Australia's big four banks made $28.5 billion in cash profits in 2022 Official rates have increased seven times since May to 2.85 per cent If unemployment rises, some …

Why has the RBA raised interest rates yet again? High inflation — and worse is on the way
2 years, 1 month ago

Why has the RBA raised interest rates yet again? High inflation — and worse is on the way

ABC  

Pushing up interest rates isn't something the Reserve Bank does lightly. The jump in inflation from 6.1 per cent to 7.3 per cent, revealed last Wednesday, made it clear that, even after six consecutive interest rate hikes, inflation was further away from the Bank's target band than it had ever been. The RBA's 2-3 per cent inflation target band was …

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