So it’s goodbye to lower interest rates – to be honest, the RBA was always looking for an excuse not to cut

I s there a release of economic data that can more quickly dash people’s hopes than inflation? Prior to Wednesday’s release of the September quarter CPI figures , there was a pretty good chance that on Melbourne Cup day the Reserve Bank of Australia would cut interest rates.

Now that hope is gone .

The quarterly inflation growth of 1.2% was roughly double what economists and investors were expecting:

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So it’s goodbye to lowering interest rates – but to be honest the Reserve Bank was always looking for an excuse not to cut them. Australia’s surprise unemployment spike suggests an economy not overheating but in need of stimulus | Greg Jericho Read more

On Monday night , the governor of the Reserve Bank, Michele Bullock, was sanguine abo