Opinion
Inflation helps government dodge interest rate bullet
The June quarter figures were not good, but they also weren’t as bad as feared. That is likely to give the Reserve Bank breathing space to keep interest rates on hold next week.
Jennifer HewettColumnistJim Chalmers likes to reassure voters that “sticky and stubborn” inflation is still heading in the right direction. He will now be more confident the Reserve Bank will be similarly persuaded of this logic when it announces its rates decision next week.
“It’s more persistent than we would like, but we have made substantial progress,” the treasurer insisted on Wednesday.
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