eport on "Rising interest rates in Australia" The Reserve Bank of Australia has been raising its cash rate since May 2022 to combat the rapid rise in inflation. Your task is to use the economic way of thinking and models learned in this unit to explain how this contractionary monetary policy will affect other interest rates, GDP and its components, employment, inflation, and the Australian dollar (i.e. exchange rate). Your report must address the following points: 1) Use the macroeconomic model (i.e. AD and AS curves) to explain what has caused inflation to move significantly above the RBA's target in 2022-2023