RBA wisecrack: Will hike into house price falls!

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Good one, Mr Ian Harper:

Falling house prices won’t prevent the Reserve Bank of Australia from raising interest rates when the case to do so emerges, Ian Harper, Dean of Melbourne Business School and member of the central bank’s policymaking board, said today.

“The bank doesn’t target house prices,” Mr Harper said in an interview with The Wall Street Journal. Mr Harper’s comments are his own, and he does not speak on behalf of the RBA.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.