Intelligent Investor

Weekend Briefing, Edition 10, 2026: War Becomes Crusade

Alan Kohler ponders the RBA's split decision, the war that's drifting into a crusade, and offers ideas on winners and losers from the ill wind that blows nobody any good.
By · 21 Mar 2026
By ·
21 Mar 2026 · 16 min read

Split Decision
War Drifts Into Crusade
Winners (and Losers)
Quotes of the Week
Research and Diversions
Charts of the Week
Next Week
Last Week

As at 5:10am AEDT:

The RBA Monetary Policy Board split 5:4 in favour of Tuesday rate hike, so a pretty close call. I'd say the five "for" were Governor Michelle Bullock, deputy Governor Andrew Hauser, and the three academic economists, Renee Fry-McKibbin, Ian Harper, and Bruce Preston, and the four "nays" were treasury secretary Jenny Wilkinson, Iain Ross, Carolyn Hewson and Marnie Baker, but that's pure scurrilous speculation and impossible to know.

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