Ben Fordham has called out the Reserve Bank of Australia claiming they were “misunderstood” over the future of interest rates.

“The fact that many people interpreted the forward guidance as a promise led to considerable reputational damage to the Bank,” the Bank said.

“When the cash rate was increased in 2022… many people saw the Bank as having broken its promise.”

Ben played back audio to his Breakfast listeners of RBA Governor Philip Lowe repeatedly insisting the cash rate will remain low until 2024.

“Their excuses are embarrassing,” Ben said.

“Don’t accuse us of misunderstanding the message.”

Press PLAY below to hear Ben’s comments in full

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