A Monash University economics expert is available to discuss the Reserve Bank’s decision to hold interest rates again and the proposed RBA reforms.
Dr Isaac Gross, Lecturer Department of Economics, Monash Business School
Contact: + 61 490 819 643 or isaac.gross@monash.edu
Read more of Dr Gross’ commentary here: Monash Lens
The following can be attributed to Dr Gross:
“The RBA held interest rates at 4.35 per cent due to the ongoing high rate of inflation and strong labour market. They also confirmed that there is unlikely to be rate cuts this year as sticky inflation remains stubbornly high.
“Interest rate cuts will take longer to occur compared to other countries because the RBA did not go as high in the first place.
“The breakdown in negotiations over the RBA reforms is incredibly disappointing. Ultimately these reforms are all about improving the RBA so they can do a better job managing the Australian economy.
“These reforms will ensure the RBA’s political independence, while ensuring they are able to fulfil their mandate for full employment.”
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