Three rate cuts rolled out this year, and now inflation's creeping back up. People are starting to wonder—was the Reserve Bank really calling its own shots, or did political pressure play a bigger role than anyone wants to admit?

It's one of those situations where the timing feels off. Lower rates were supposed to stimulate growth, but instead, we're watching prices climb again. Makes you think about how much independence central banks actually have when the heat's on.

For anyone tracking macro trends or trying to read where risk assets might head next, this kind of policy flip-flopping matters. A lot.