With so many people getting it wrong about the Reserve Bank’s surprise hike in interest rates, an easy response may be not to shoot the messenger but to hire one. Borrowers were among those caught on the hop, lulled by media reports to expect that the central bank would pause again in lifting rates, if they hadn’t peaked already. Investors, who had estimated the risk of a hike as minimal, will likewise be tallying losses. As it happens, recommendation 10.5 in the wide-ranging RBA review was a call for the appointment of a “chief communications officer” to give bank executives “a richer understanding” of what ... (full story)