‘Definitely the right decision’: RBA ‘on the right path’ by holding cash rate at 4.1 per cent

MacroBusiness Chief Economist Leith van Onselen says the RBA’s decision to hold the cash rate at 4.1 per cent was “definitely the right decision”.

“We’ve seen inflation tick up a little bit because of these high petrol prices but the more important thing that the RBA looks at and economists look at is what’s called core inflation,” he told Sky News host Andrew Bolt.

“The average interest rate paid in Australia is growing still even though the RBA has been on hold since June.

“The RBA basically said they want to sit back and look at the data, see how it revolves and then take action if they need to.

“I think they’re on the right path here.”

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