By guest contributor, Jake Jodlowski, Principal, Atchison Consultants
Australian official interest rates are set by the Reserve Bank of Australia (RBA), an independent body established in 1959. It operates within an inflation-targeting regime which seeks price stability in the 2%-3% consumer price index band. Originally, the RBA also governed prudential policy but, as a result of several large scandals and bankruptcies in the late 1990s, that role was transferred to a discrete entity titled the Australian Prudential...