RBA doing ‘all it can’ with monetary policy tools to tackle inflation

Shadow Finance Minister Jane Hume says the Reserve Bank of Australia is doing “all it can” with its monetary policy tools to tackle inflation. “The Reserve Bank has said inflation is two things – it’s homegrown … and it’s also sticky, which means it’s been hard to bring back down into band,” Ms Hume told Sky News Australia. “They’ve also said that one of the drivers is that growing public sector spending and that’s, of course, fiscal policy whether it be state or federal. “The Reserve Bank is doing all that it can with its monetary policy tools, but it’s only got one and that’s interest rates.”