Australia press: Australian government not happy with RBA neutral bias on interest rates

• A report in the Australian Financial Review (gated) overnight says that the move by the Reserve Bank of Australia (RBA) to a “neutral bias” on monetary policy has angered the Abbott government
• Treasurer Joe Hockey is said to have to personally made the government’s displeasure known to the RBA as the dollar’s rise will exacerbate budget challenges
• Senior government sources told the AFR that while the government appreciated the RBA’s concern about property prices, the change to a neutral policy setting had been a major factor in the recent jump in the value of the local currency

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The government has also said in the past that it supports RBA independence on monetary policy. Go figure. What a surprise they aren’t happy now rates appear to have stopped falling. Predictable ****ers, aren’t they?