Why further interest rate hikes by the Reserve Bank won’t fix Australia’s inflation problem

News Snapshot:

If only there was a diagnosed condition called One Size Fits All (OSFA) syndrome. The chances are that, if that were the case, a significant portion of our economic gurus might just find themselves exiting their shrink and heading down to the nearest pharmacy for some relief. In the past few months, many of our soothsayers have mostly all shifted gears on the future direction of interest rates. What early this year was a near-unanimous call for multiple rate cuts has suddenly been abandoned, replaced instead by predictions of further possible interest rate hikes. Even those who reckon higher rates...