The RBA's chief economist has conceded the central bank's economic forecasts are often wrong as the bank comes under pressure for hiking interest rates.
Meanwhile, RBA governor Michele Bullock has taken exception to Nationals senator Matt Canavan telling Senate Estimates that people in Australia are going to get angry if they are gaslit into thinking the economy is OK.
The ASX 200 is at a four-month high, with ANZ finishing up +8.5%. However, the Aussie dollar is trading about 71 US cents.
The Reserve Bank of Australia chief economist Sarah Hunter has been speaking in Perth and said, 'Forecasting is really difficult business, our forecasts are often wrong.'
She added that 'things change, events happen'.
The ASX is up +0.9% to 9,098 points as we begin afternoon trading.
ANZ has posted its quarterly results, showing rising profits to almost $2 billion for the three months to December. However, the finance sector's peak union has been vocally against these job cuts, and now it's raising concerns about a 'tone deaf' barbecue advertised for ANZ's Melbourne office.
The company Albemarle is immediately shutting down its South West lithium refinery and about 275 jobs are expected to be affected.
The Construction, Forestry and Maritime Employees Union has been under a cloud since Nine newspapers raised serious concerns about corruption in its ranks two years ago.
