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Central bank target. earlier i spoke to state street global markets who explained how he expected the rba to move. we do think that there _ expected the rba to move. we do think that there is _ expected the rba to move. we do think that there is a _ expected the rba to move. we do think that there is a rather - think that there is a rather high chance that they may hike once again as it has a recent history of surprising. some of the less enthusiastic members of the investor community who think the rba is going to stay on hold cited the very weak cpi number we saw last week but the underlying ...

Members of the investigative committee, that think that the rba is going to stay on hold, cite the very week cpi number that we saw last week, but we think that underlying inflation, the core inflation, which is the inflation indicators that the rba is looking at very closely, they still remain significantly above target, and given other very strong areas of the australian economy, we think of consumer spending, we think is probably prudent for the rba to hike once more, partly as a catchup play to other central banks as well. i catchup play to other central banks as well.— banks as well. i ...

But probably interest rates are going up at least a couple times. >> i want you to listen to what one of your colleagues told one of my colleagues larry summers this week on target. listen. >> so, it looks more possible that we'll have a soft landing than it did a few months ago. my continued fear, though, is exactly the one that you describe. that we had a set of inflation indicators during 2022, that were very strong that have now come back to earth. but they're still too high. >> that's a long way to go to a 2%, or 2.5% inflation rate in this country still. >> there is. i mean, i think we'r...

Landings are as samuel johnson said of second marriage, the triumph of hope over experience. but from time to time, hope does triumph over experience. so it looks more possible that we'll have a soft landing than it did a few months ago. my continued fear, though, is exactly the one that you describe. that we have a set of inflation indicators during 2022 that were very strong that have now come back to earth. but they are still too high. they're still unmanagably high from the perspective of two or three years ago and that getting rest of the way back to target inflation may still prove to be...

And does this tight of job market, two vacancies for every person looking, does this show that you still have a real inflation problem? >> fareed, you're asking the right question and nobody could know the answer for sure. i've said often that soft landings are as samuel johnson said of second marriage, the triumph of hope over experience. but from time to time, hope does triumph over experience. so it looks more possible that we'll have a soft landing than it did a few months ago. my continued fear, though, is exactly the one that you describe. that we have a set of inflation indicators durin...