"The way we use interest rates to control inflation is socially destructive, unfair and inefficient" Everyone seems to be forgetting that the Reserve Bank has

"The way we use interest rates to control inflation is socially destructive, unfair and inefficient" Everyone seems to be forgetting that the Reserve Bank has been telling the government for years and years that the housing market is out of control and the government needs to implement policies (e.g. tax changes) to reign it in. The RBA can only control one thing: the cash rate. So, government after government have shied away from any kind of reform and relied the RBA to do the unpopular thing. They even chastise the RBA in the media. So now we have a true inflation problem and the thing that the RBA has been warning successive governments about is unfolding. But who is everyone blaming? The RBA. Idiotic.