How much of a difference to inflation will further rate rises make?
If we kept rates steady in Australia while the US Fed kept pushing rates higher in the US, the Australian dollar would lose even more value against the US dollar, and that could see a lot of inflation being imported into Australia. So, the RBA is lifting rates to try to prevent Australia’s dollar losing too much value, thereby preventing more inflation being imported to Australia.possible in this situation, it’s just that it’s being done in a brutal way.
any economists ever get it right ?
So much for build back better post covid. Erosion of the middle class into poverty, whilst the wealthy elite just keep on keeping on. Really feel for the aussie battlers that just scraped in and bought their first house in last 3 years. Going to be brutal.
Based. They need to do this.
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