With inflation driven by Christmas holidays and data centres for artificial intelligence, the RBA didn’t need to raise the interest rate this week, argues Matt Grudnoff.

On this episode of Follow the Money, Matt Grudnoff joins Ebony Bennett to discuss big economic reform opportunities facing the government and why the Reserve Bank of Australia is so cautious about cutting rates, yet so quick to hike them up.

Join economist, author and former Greek finance minister Yanis Varoufakis and friends in Adelaide on Sunday 1 March and in Sydney on Thursday 5 March. Tickets are selling fast, so get yours now.

Guest: Matt Grudnoff, Senior Economist, the Australia Institute // @mattgrudnoff

Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebonybennett

Show notes:

Hasty decision inflicts more pain and will cost jobs, the Australia Institute (February 2026)

Australian high schools the most expensive in the world – new research, the Australian Institute (February 2026)

Treasurer Jim Chalmers on the likelihood of an interest rate rise today, Radio National Breakfast, Australian Broadcasting Corporation (February 2026)

Theme music: Pulse and Thrum; additional music by Blue Dot Sessions

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