RBA's move wise not gamble

Comments on Isabelle Oderberg “Australia's rates gamble”, 6/10/2009, http://www.businessspectator.com.au/bs.nsf/Article/Rate-rise-rates-reserve-bank-pd20091006-WK7D9?OpenDocument&src=sph

The RBA’s move to raise interest rate is wise and completely justifiable. It is a pre-emptive move in the context of a potential bubbling housing market and the most rapidly recovering economy in the industrialised world.
It is wrong to assume and argue that the RBA is wrong in raising the interest rate today.
It is irrational to say that because a large part of the world is still in difficult the Australian economy is also in difficulty.
While international economies are important in an integrated world, it is also important which of those international economies are impacting us the most right now and in the near future.
It is irrational to reason that because some people representing special interest groups have said that “this could also derail progress made in the building sector and mortgage market” then it will do that.
The RBA’s symbolic move is sending a useful signal to consumers and business alike that interest rates cannot and will not stay for too long at the abnormally low, emergency levels. Any decisions on long term asset purchase should take a long term view on the impact of interest rates.
That is important to prevent another rapid overheating of the housing market in Australia or at least to minimise the chance of that happening.
Oderberg should read the article “Realism from the RBA”, by your colleague Stephen Bartholomeusz today on the same website.