Importers and exporters are bracing for more disruptions to critical supply chains, which will have global ramifications.
“The underlying equation at the moment is the better the politics of doing something, the worse the policy is.” When Mr Frydenberg delivered last year’s budget, the signal from the Reserve Bank was that the record low 0.1 per cent interest rate would remain on hold until at least 2024.It was a message RBA governor Philip Lowe maintained until the dying days of 2021 ahead of a major shift at the bank’s first meeting of this year.
While most economists believe the bond market is being too aggressive, the consensus is for a higher benchmark rate after Dr Lowe warned it would be prudent for households to prepare for an increase in interest rates.“Pricing looks completely disconnected from even a hawkish interpretation of what the RBA would likely deliver this year,” Mr Morriss said.
Source: Loan Digest (loandigest.net)
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