Reserve Bank of Australia board members privately rebuked deputy governor Andrew Hauser for publicly signalling that interest rates were very likely to rise and for moving markets a fortnight before the official meeting this week because they felt it undermined their independence and risked preordaining the decision.
Tensions among the RBA board members over the central bank’s pre-meeting communication strategy before their two-day meeting were laid bare by a split 6-3 decision to raise interest rates to an 18-year high of 4.85 per cent on Tuesday.
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