Reserve Bank hikes cash rate. will "do what it takes" to pull down inflation.

Reserve Bank governor Philip Lowe has been urged to resign over a signal last year that interest rates would most likely remain steady until 2024. 

Economist Warren Hogan says "some pretty bad errors" were made by Mr Lowe and the Reserve Bank board. 

The RBA is widely expected to deliver another 0.5 percentage point increase at today's board meeting taking the official cash rate to 1.85 percent. 

I speak with Warren Hogan and earlier had this analysis on ABC Newsradio.

Sydney's Daily Telegraph made Philip Lowe front page news suggesting he should "take a hike" because of his errors.

And it's not the first time a Reserve Bank governor has been targeted by the Daily Telegraph. Mr Lowe's predecessor Glenn Stevens copped this in 2008.