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READ MORERBA responding to out-of-date number, says CPA Australia
CPA Australia said the RBA’s decision to lift interest rates by 50 bps to 0.85 per cent highlighted the need to report inflation monthly rather than quarterly.
“The RBA has relied on CPI figures for the March quarter,” said senior manager business policy at CPA Australia Gavan Ord.
“These are the same figures it relied on to raise interest rates by a quarter of a per cent in May; and will be the same figures it relies on at its July meeting. “Because Australia only reports CPI data quarterly, we have a limited understanding of the impact May’s interest rate rise had on inflation.”
Read more at Accountants Daily
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