Day 23: What does the rate rise mean for the election? with Bernard Keane
Cut Through
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Is There a Demand Driven Inflation?
M r b a governor philip lo said in his post meeting statements that domestic capacity constraints are increasingly playing a role. Inflation pressures have broadened with firms more prepared to pass through costing, cost increases to consumer prices. So it's really flagging that if you think monetary policyis not going to be any good at stopping externally imposed inflation, things like oil price ses,. They're saying, well, sorry, but a lot of what's going on is also a domestic issue as well and that's why we're living to address it with monetary policy now.
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