Rebuke, review, revival: The RBA could be a model for other public institutions
Australians increasingly do not trust their institutions. The Reserve Bank is bucking that trend.
Reserve Bank governor Michele Bullock will stand up in front of Australia this week and, provided economists are correct, tell a budget-conscious public that interest rates are going up another 25 basis points.
She is likely to face frustrated questions from the media, asking her what her message is for homeowners facing higher mortgage repayments and whether the central bank’s narrow path strategy has failed to put the nation on solid footing to confront global shocks.
But while Bullock and her monetary policy board have not yet achieved inflation of 2.5%, there is one shining light for the central bank.
Despite increasing rates, trust in the RBA has lifted recently, in ways few other institutions are experiencing.
