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SBS On the Money: Discretionary inflation is within the RBA's target, so why are interest rates still high?
Source: SBS News
Research from the Commonwealth Bank shows while headline inflation at 4.1% is above the RBA's 2-3% target, inflation for discretionary items like take-aways and entertainment is within the range at 2.4%. Non-discretionary inflation, for things like rents and electricty, sits at a much higher 4.8%. SBS Finance Editor Ricardo Gonçalves speaks with CBA Head of Australian Economics Gareth Aird to find out the implication for monetary and fiscal policy, plus all the day's market action with Dianne Colledge from Morgans Financial Limited.
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