The Centre for Independent Studies’ Chief Economist Peter Tulip says the RBA’s argument for slowing down the pace of interest rate rises is that “they’ve already done a substantial amount”.
The RBA this week lifted the cash rate by 25 basis points to 2.6 per cent despite some expectations it would be lifted by 50 basis points.
Mr Tulip said the bank believes it’s time to “ease their foot off the accelerator”.
“So they’re not putting on the breaks, they’re not pushing it as hard as they can because they think they’ve already done a lot,” he told Sky News Business Editor Ross Greenwood.
