Read the Statement of the Decision of the Meeting of the Reserve Bank of Australia Board held (today) on 6 June 2023 at the following url: https://www.rba.gov.au/media-releases/2023/ a) In your own words, summarise and explain the reasons for the RBA's decision on the cash rate b) The RBA often claims that the path to achieving a soft landing remains a narrow one in the current circumstances. Explain what is meant by a 'soft' versus a 'hard' landing in the of the RBA's current disinflationary policy since May 2022 c) If you were a Board member, explain what macroeconomic information might lead you to vote at the next meeting in 4 July 2023 of the RBA Board to raise or lower the interest rate.

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