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The RBA has raised the cash rate from 4.35% to 4.6% in a widely expected move, bringing rates to their highest level since October 2011. Chief economist at EY O…
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42 Comments
Okay i send this news to my boss so i can get pay rise
After this decision there will be a queue for those wanting to emigrate.
So many people with no economic knowledge waffling in the comments section lmaoooo
No one here blames the US war for anything.
Good news for those that rely on interest on their savings. Some lose, some win.
Cut boomer pensions, and centrelink by 10%.<br>And only accessed by Australian born citizens.<br>And increase pension age to 70.<br>Cut income taxes in return.
An RBA that never considered government spending when modelling different scenarios that could help lower inflation! DEI hires at hires at there best!
So we back to what we were a year ago.. <br>Aren't we expected migration to go down soon? That will likely reduce our "speed of the economy" and therefore reduce inflation to some level - but at the cost of getting into a recession..<br>As the saying goes - can't have your cake and eat it
Mr and Mrs Joe Blow are not the ones causing inflation by buying a home to start a family. It is the insatiable greed of energy companies, their CEOs and shareholders, CEOs of big companies getting millions of dollars, city council and public service agencies CEOs being paid 6 figure salaries with taxpayers and ratepayers money. They spend big on investment properties, restaurants, holidays, clothes, shoes and expensive cars because they have the spare money which Joe Blow and his wife do not have. And as usual, they get screwed all the time by the Reserve Bank.
People will say government spending is helping to drive inflation but come budget time we all want money spent on things that affect us.
VOTE OUT LABOR, they are killing Australians with high taxes, high inflation & high interest rates.
RBA governor's $1million salary means she doesn't understand normal Australians' struggle
I'm so glad journalists in this country all have 20/20 hindsight and know that people actually having to have to make informed guesses without the hindsight our journo's have are such idiots. how are you guys being paid hundreds of thousands of dollars, when you seem to be a bunch of duplicitous dogma addled propagandists? I have put this comment on ABC because I'm dissapointed in the fall of journalistic standards on aunty and putting it on right wing media would be urinating into the wind even harder!
Random thought, why can't they send a census-like questtionaire asking every citizen what issues need the most attention? Then have that be what the government should act on...
Government spends too much $$$ we pay 😡😡
Labour voters suffer the most from this worst government which ruined the country economy! Union background politicians only know how to use taxpayer money to power their own jobs and union interests!
FEDERAL GOVERNMENT SPENDING LIKE DRUKEN SAILORS
Stop making a big deal out of nothing, rates were dropped 3 times last year so they are now same as what they were last year. The only solution is to stop immigration.
The way this is going, we will be in recession by Christmas.
"Deny, Deflect, Divert, Distract, Distort, Dismiss, Downplay & Dodge". It wont be easy under Albanese. All they do is LIE. Worst EVER government.
The problem is, when the government reduces spending, we argue their not doing enough to fix things.<br>Its gonna be high inflation anyway, the issue at what pace it goes..<br>Riate rises only speeds up the issue<br>Cutting rates may slow it own a bit, but either way pops still arguing its too high<br>At th end of the way, you can't reduce it by much, only slow it down..<br><br>Seems the RBA want up to have high inflation as quick as possible<br><br>If inflection has to high, to me at least a slow down is better, over a longer period, than quick spike<br><br>It affects other things,, but what's more important than your mortgage?<br>Unfortunately, none of this affects renters were we are in :P Plus the RBA can do this hike, and governments don't care even though thy think they do, because they get our taxes anyway.. What have THEY got to be worried about.:
We need to cut the excessive military spending.
Please explain to me how raising interest rates helps with fuel prices. <br>I just can't make the mental leap. Is the inflation due to high demand or increasing costs?
Tax the rich, because we are constantly told we can't tax the rich because the economy will suffer, inflation goes down to boost the economy, so to bring down prices instead of hiking interest rates to curb spending, try taxing the rich,
Yes, but we just donated huge amount of money to other countries (started with "U") recently...
Best news, we need 10% rates
We do realise the RBA sets interest rates. Government have no sway on that. It may be owned by the Australian Government, but in no way listens to the government on what rates should be. So any rate rise is the RBA doing it....
It is inflation fuelled by profit. It is not the cost of things rising out of control. Tax those gouging the system and the rot ends.
More taxes are needed for the new 30,000 imports Albanese has burdened us with.. 😂😂 . Yep the greatest prime Minister we have ever had 😂😂😂😂
didnt they run a budget surplus? <br>Isnt that deflationary?
I guess it's good news for people with fixed rate mortgages and people with investment portfolios including self funded retirees.
Interest rates still too low!
I think Ukraine needs more money... That will help us!
Ok so we are blaming oil prices and a war, good to see someone's sticking to the narrative. Fact inflation was already a problem before the war in iran so the war is simply an after thought catalyst.<br><br>People are still buying the same amount of petrol and diesel they are simply paying more for the same amount they use per week, so again this does not change the inflationary numbers.<br><br>The fact that Jim Charmers has not 1 idea about how to run a business nor an economy and radically and irresponsibly spends money quicker than someone can print it says it all.<br><br>The RBA were warned what would happen if they raised rates, so how many builders are going to go broke this time how many small business close their doors. Oh wait that would raise the unemployment rate hence inflationary numbers go down.<br><br>But millions of Australians loose their houses and business in the process because of a labor gov.
The Truth - They have no idea what they are doing
I just vote Pauline to cut demand
50% voters get their main income from govt
Jim Chalmers "Inflation is not primarily the result of households" ... so we are still to blame. WAR is the narrative.
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We need reform. We need to incentivise our governments, our private sector and financial institutions, to redirect investments & taxes into meaningfully productive, healthy opportunities, instead of speculating on land values and being worse than the aristocrats of the old world, who sat on their wealth and did nothing.
But Jim Chalmers say it is my fault because i spend too much on luxury like rent, electricity and food. Is he telling us we need to cut back on food and shelter? It's a circus. Banana republic.
....or they could tax the rich and the corporations and mining and resource sectors appropriately to benefit the people of Australia.
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