The Reserve Bank's Mandatory to Control House Price Inflation

It's not too much of an oversimplification to say that everyone who's negatively gearing is by definition speculating. I remember having discussions about this around the Reserve Bank board table from time to time and just saying, well, what, if anything, can the Reserve Bank do about this? After all, it's not its mandate to control house price inflation. It's mandated to keep consumer price inflation between that target band of two to three percent. But with respect to speculative assets, including property, it has no, no particular mandate. Other than to ring its hands and be worried that these, that if bubbles burst, they could cause some instability in the financial system which is a concern