Interest rate rises set to start in June as RBA runs out of patience

A series of interest rate rises starting in June now looks to be the Reserve Bank of Australia’s destiny, after the central bank dropped its willingness to be “patient”.

However, the spectre of looming rate rises will hang over the election campaign that is likely to be dominated by political rhetoric about cost of living pressures.With Prime Minister Scott Morrison claiming to be better than Labor at keeping inflation and interest rates lower despite the Coalition’s stimulatory budget, shadow treasurer Jim Chalmers said on Tuesday thatNevertheless, it is welcome news that the RBA will be starting to normalise rates from the emergency-low 0.

Importantly, average earnings in the national accounts due in early June are likely to be running above the WPI, thanks to bonuses, promotions, job switching and other top-up payments. Ultimately, Lowe and his board are likely to be armed with the smoking gun they desire for an interest rate rise on Tuesday, June 7.

Get on with it

This is what happens when you are behind the curve. Inspite of multiple warnings the RBA governor chose to be ‘patient’. Now next stop is Recession triggered by RBA. Serious pain in store. Mark my word.

Rather than raise rates RBAInfo should consider requiring TFF $95billion to be repaid in 2022-2023 by the Banks this would reduce total funding available and require banks and not RBA… to raise rates …..the Banks have been supported long enough auspol

Runs out of room

So let’s hit the brakes when we’re 20 not 50 metres from the stop sign….Buckle up everyone… too little too late….again!

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