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Speaker 1: So we've had the first monetary policy decision from the

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Speaker 1: new Reserve Bank governor. And it's not really until you've

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Speaker 1: got a new captain in charge that you realize just

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Speaker 1: how little confidence you had left in the last lot.

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Speaker 1: I mean, looks, let's be fair, it's early days for

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Speaker 1: Anna Bremen. We will judge her by what she does

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Speaker 1: from here on in. But she does start with a

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Speaker 1: clean slate without us reading into her decision and second

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Speaker 1: guessing everything because of a poor track record, and that

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Speaker 1: I would say is at absolutely welcome change from just

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Speaker 1: a few weeks ago before she took the helm. Her

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Speaker 1: take is that inflation is fine. Yeah, it's sitting a

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Speaker 1: little high at the moment three point one, that's outside

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Speaker 1: the target band, but it will fall back within the

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Speaker 1: band by this time next year. The economy is improving.

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Speaker 1: The green shoots that were previously limited to the regions

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Speaker 1: and certain industries are becoming more widespread. Households are getting

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Speaker 1: more money in their pockets, but they still are cautious,

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Speaker 1: and that's a problem because unless they're confident enough to spend,

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Speaker 1: they will hold back the economic recovery from what it

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Speaker 1: could potentially be. But and this is probably the bit

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Speaker 1: that you've you've been the most interested in been waiting for.

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Speaker 1: They will start raising the ocr faster than we thought so.

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Speaker 1: Previously they had the official cash rate projection going from

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Speaker 1: two point two percent in March to two point three

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Speaker 1: percent in December. That's now come forward. It's now two

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Speaker 1: point three percent in June and two point four percent

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Speaker 1: in December. In their predictions, the first hike will still

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Speaker 1: most likely be in December, but the chances of it

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Speaker 1: being in September just went up. It's not a major concern,

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Speaker 1: it's not a major correction. It's not really a game

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Speaker 1: changer for anyone, but it is bringing the inevitable closer

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Speaker 1: still for now. It's nice to have a change at

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Speaker 1: the top, isn't it. And here's hoping this governor does

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Speaker 1: a better job than the last one. For more from

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Speaker 1: Heather Duplessy Allen Drive, listen live to news talks. It'd

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Speaker 1: be from four pm weekdays, or follow the podcast on iHeartRadio.