Reserve Bank’s ‘language’ in media statement was ‘stronger’ than anticipated

KPMG Chief Economist Brendan Rynne says the Reserve Bank’s “language” in today’s media statement was “much stronger” than anticipated.

“The language that was in today’s media statement was much, much stronger than what I thought it was going to be,” Mr Rynne told Sky News Commentator Steve Price.

“Quite clearly the Reserve Bank was very concerned about the level of inflation that materialised in the last quarter of last year, running at nearly eight per cent.

“It’s very much wanting to try to clamp that down and bring inflation back to its target band.”

KPMG Chief Economist Brendan Rynne says the Reserve Bank’s “language” in today’s media statement was “much stronger” than anticipated. “The language that was in today’s media statement was much, much stronger than what I thought it was going to be,” Mr Rynne told Sky News Commentator Steve Price. “Quite clearly the Reserve Bank was very concerned about the level of inflation that materialised in the last quarter of last year, running at nearly eight per cent. “It’s very much wanting to try to clamp that down and bring inflation back to its target band.”

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