RBA raises cash rate to 0.35pc with more to come

Prime Minister Scott Morrison was delivered a damaging mid-campaign setback on Tuesday when soaring inflation forced the Reserve Bank of Australia to raise interest rates for the first time since November 2010.

He described the Coalition’s policy platform as a “shield” against economic uncertainty, using the phrase more than a dozen times during the 15-minute press conference and in walk through of a local fruit and vegetable store.“Our government has put up an economic shield for Australians, Australian businesses, Australian jobs, and Australian incomes to get us through one of the worst crises we’ve seen a generation,” he said.

Shadow treasurer Jim Chalmers said it really didn’t matter when rates rose, Mr Morrison’s economic credibility was in tatters. The RBA has faced criticism for being behind the curve after the COVID-19 crisis. Just six months ago Dr Lowe was insisting the cash rate would remain near zero until 2024 and

Source: Loan Digest (loandigest.net)

Who will pay our mortgage, already banks are squeezing every cent out of their customers

latingle Morrison’s inaction has meant he has lost control of the economy.

I say they will just talk it tough. Rates will max at 1% max before share market tells these pussies to cut again.

And on ABCTV our pm ScottMorrisonMP is busy analysing events across the globe for the last 10 years, and quickly building a framework of blatant lies to explain why we're better off than most - all due to his brilliant government leadership... FKCING PATHETIC!

Can't cook a curry. $1T debt. Wages are flat, interest rates are up. Time to go interestrates SmirkAndMirrors auspol AlboForPM LNPMassiveFail ScottyThePathologicalLiar

latingle I can hear Morrison now….I don’t hold a mortgage mate…That not my job!

Australian Engineer Robert Pether still sits on the floor of a crowded Iraq prison cell. The UN issued a report weeks ago calling for his IMMEDIATE UNCONDITIONAL RELEASE. HUMANRIGHTS freerobertpether ARBITRARYDETENTION

latingle 5% inflation means a doubling of prices over about 15 years compounding ,you really want a range betwwen 2 and 4 % for stability ,but it you want to stop inflation you have to stop borrowing as much .

Blame the inflation, do it for the property market lol

It’s time! Scott Morrison is washed up. Finished. It’s time he goes. It’s time for change. History always repeats itself. Labour will win in a landslide. It’s time for Albo. It happened before and it will happen again.

latingle Just the beginning - more rises foreshadowed

latingle Only Morrison could spin a positive on today's interest rate rise. Taking credit but ignoring questions.

this is the 'correction' your life needed to have /s

latingle

The PM has stated that he has never heard of the Reserve Bank.

Too little, too late. Increases should have commenced years ago. The Governor is a fool. By delaying, the upshot is going to be far worse.

JoshFrydenberg ScottMorrisonMP If as you say you expected that rates would need to move up to more normal settings then why did you let the deficit blow out to ONE TRILLION DOLLARS

Better late than never. Still, way behind the curve. Tomorrow is going to be more interesting when Fed increases its cash rate by full 50bps.

Well Morrison and Josh ignored RBA when they said raise the Wages!!!!!!🤬🤬🤬🤬🤬

can it get any more damaging than before?... oh yes it can....

That's not a rise this is way below inflation. WAY WAY below making money worth equal to allow saving speculation & gambling every dollar before end of day official RBA rate 0.35 points Official Inflation excluding so many items

It's time for RBA governor to step down. Why we need a RBA that did nothing for 11 years and got the inflation and rate forecast so so wrong? Six months ago it was still saying 2024 for first increase. ausbiz auspol interestrates

0.35 PC for cash rate is still really low.

want to see me without a bra?

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