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We have to consider RBA doesn't have power to set rates of medium/long term, they do chave control for variable rate and probably up to 1 year term. Also if in the medium/long term inflation and CPI rise above RBA interest rates rates would have to rise much higher then everyone expect today...

Seems like I am not the only one having bad opinion on Battellino, here is another recent updata from bloomberg: May be Rober Rennie from Westpac had a more "polite" way to call Battellino an idiot...:rolleyes:

Battellino made it also on bloomberg My view is that I don't think RBA and Stevens would fully agree on what he said. After all the only reason behind rate rise is the growth on credit on housing, if the housing credit pose no danger RBA wouldn't rise rates as business credit is contracting...