I do not want to make too much of this point, but the saturation coverage of the event in the print and electronic media must have had some dampening effect on expectations, as some surveys have suggested.
It would not be surprising if the household sector had become more sensitive to news about interest rates, given the increased debt and debt servicing loads that it is now carrying. To cut a long story short, the next set of producer and consumer price inflation data that we received was more reassuring.