cash rate target unchanged at 5.50 per cent.

[thefirstbruce]

4 May 2005
At its meeting on 3 May, the Reserve Bank Board decided to leave the cash rate target unchanged at 5.50 per cent.

[MichaelW]

Wimps!

This proves that the RB isn't as "stand alone" as they appear to be or should be... Go little Johny go, ride that wave!!

MW

[Kenny]

Hi Michael,

I'm curious as why would you think that about the RBA? What sort of pressures can "Johnny" bring on the RB and why would it be in their best interests to tow the line?

Naive questions, I know. My apologies.

Regards,

Kenny

[MichaelW]

Hi Michael,

I'm curious as why would you think that about the RBA? What sort of pressures can "Johnny" bring on the RB and why would it be in their best interests to tow the line?

Naive questions, I know. My apologies.

Regards,

KennyKenny,

Not naiive, I would have asked the same question myself before reading a related thread here on SS. Can one of the mods help me track down that thread on independence of the RB, has it been pulled?

<edited> Couldn't find the original thread, but here's a post from Pitt St that explains it well...

http://www.somersoft.com/forums/showpost.php?p=151795&postcount=21 <edited>

Cheers,
Michael.