Even the most avid of Australian market hawks don’t anticipate Australia following suit in anything like that timeframe, despite the RBA’s plans to end its massive $350 billion bond-buying program next month.
Presumably, he’s still not convinced a reading of 2.1 per cent in the September quarter and 2.6 per cent in the next means that precondition will be met.
The governor will be determined to remain out of the campaign firing line of a May election but the RBA won’t be afforded too much respite from political posturing in such a feverish atmosphere. Scott Morrison is already practising his lines about all this demonstrating the need for a government with a “track record in economic management”, warning that petrol prices, electricity prices and interest rates would all be higher under Labor. He will use the buoyant jobs market as his proudest political shield.
Nothing new. Common ppl like me have been on the receiving end of inflation much before this published data. Lowe had no idea. He just takes the cue from Fed. To the asset owners inluding property. Be very worried. 30 years of gain will end in serious pain.
The RBA board should have been sacked 2 years ago!
Lowe (and the RBA) have been absolute fools. They’ve deliberately created an asset bubble with record lending and if they ever raise rates above the target inflation band they’ll bankrupt countless households. Well done.
Unexpectedly high! Consumers have experienced it for a very long time.
That mung bean needs to go
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