RBA rate hike one and done?

David Llewellyn-Smith

Wednesday 11 February 2026

We all know that the RBA can’t forecast its way out of a wet paper bag.

Yesterday, we got a swag of soft data evidence that it has, once again, nailed the top of the economy with a rate hike.

The CBA employment tracker continued to show a decline in monthly job creation.

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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.