RBA Deputy Governor Calls for Better Communication on Interest Rate Decisions

The Reserve Bank of Australia (RBA) deputy governor Andrew Hauser has acknowledged that the central bank needs to improve its communication with the public about its interest rate decisions.

In an interview on the ABC's 7.30 program, Hauser said he was recruited from the UK to help modernize the RBA's position in the minds of the general public and convey their mission more effectively.

'People are furious about inflation, I understand why; it's unfair, it hits people on low incomes,' Hauser stated.

The RBA has raised interest rates three times this year to combat inflation, with some predicting another hike next month. The Australian sharemarket puts a 60% chance of an interest rate increase to 4.6%, which would be the highest since October 2011.