Tom Elliott said the Reserve Bank’s reaction to this inflation to raise interest rates is ‘a dumb policy’.

<p>Tom Elliott said the Reserve Bank&rsquo;s reaction to this inflation to raise interest rates is &lsquo;a dumb policy&rsquo;.</p>

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<p>Listen to the best bits of 3AW Mornings &amp; exclusive interviews here - and don't forget to tune in live between 8.30am and midday. [http://www.3aw.com.au/](http://www.3aw.com.au/)</p>