Reserve Bank of Australia (RBA) governor, Philip Lowe, has raised official interest rates by another quarter percent to 3.85 percent. Lowe has been under scrutiny for inflation as he previously made a mistake by stating interest rates would not rise until 2024. However, Lowe argues that the government has more tools to combat inflation than he does with his limited monetary policy. Many central bankers and economists have been blamed for the current inflation crisis across the world. Lowe’s warning is just the beginning, with predictions from Morgan’s chief economist Michael Knox indicating interest rates could reach 4.85 percent. The RBA’s increased assets are a result of massive federal government spending since the Global Financial Crisis in 2008. Lowe is pressuring the federal government to change policy to avoid inflation. Fiscal and monetary levers should not be controlled by the current Treasurer Jim Chalmers. If inflation is not quickly addressed, it could become unbridled.