today decided to keep the interest rate on hold despite criticism that historically low rates were "supercharging" the property market.
"Housing credit growth has picked up due to stronger demand for credit by both owner-occupiers and investors. The Council of Financial Regulators has been discussing the medium-term risks to macroeconomic stability of rapid credit growth at a time of historically low interest rates. "The Reserve Bank reduced interest rates to historically low levels and introduced a suite of other policy measures to lower funding costs and interest rates across the economy," Ms Bullock said.
"The idea was that we were building a bridge to get us over the economic crevasse created by the pandemic."Despite interest rates holding at 0.1 per cent since November 2020, the true pocket cost of Aussie mortgages may change over time.
Plan B
Joseph Goebbels would be proud of your Network. You even turned off all Youtube comments because YOU KNOW IT!
Can't go lower, can it ?