The Reserve Bank Governor is defending not going harder with cuts to the Official Cash Rate.
The cash rate has been cut 25 basis points to 3%.
But it's signalling more cuts than it was before, and has revealed two of the six Monetary Policy Committee members actually wanted a bigger cut.
Christian Hawkesby told Mike Hosking he stands by the central bank's decisions.
He says they're focused on their mandate of controlling inflation over the medium term, but the recent slowdown has changed their outlook.
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The Mike Hosking Breakfast