Ben Fordham has slammed The Reserve Bank of Australia as the cost of living continues to rise.

The Reserve Bank is being put under review for the first time in decades.

An inquiry into its performance will be formally announced by Federal Treasurer Jim Chalmers.

It will also look at its culture, operations, board structure and inflation policy.

ANZ Bank is predicting there will be four more interest rate rises by the end of the year.

By Melbourne Cup Day, interest rates could be at 3.35%

“The Reserve Bank must think we’re morons,” Ben said.

“At every opportunity, they assured us rates would not be going up until 2024.

“Well thanks to highly questionable comments coming from the RBA, many Australians made financial decisions and they hey now risk losing their homes so based on that stuff up, Phillip Lowe should have to justify why he should keep his job.”

Press PLAY below to hear Ben’s full comments

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