Over half of Australians surveyed don’t know how the RBA is fighting inflation – making it harder to beat

Tomorrow we’ll get the latest figures on inflation in Australia. That data will be critical in helping the Reserve Bank of Australia decide whether to lift interest rates again next month. Answering questions at a lunchtime speech today, RBA Governor Michele Bullock noted “inflation is still too high”. Yet many Australians are confused about how monetary policy – the RBA’s setting of interest rates – actually works, according to a new RBA survey. This surprising finding means the central bank…