Was the decision by the Reserve Bank’s monetary policy committee (MPC) hawkish or dovish? The view from more than one economist on Thursday was that while the hawk was evident in the tone, the dove made an appearance in the 75 basis point decision .

In practice the committee decides by a kind of consensus, hammered out over two days of talks, rather than by a vote as such. But at the committee’s previous meeting, in September, two members of the committee preferred a 100 basis point hike, while the other three wanted — and got — 75 basis points...

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