The Reserve Bank is starting its chase of the inflation genie – and starting it from a long way back.
That it had to bite the bullet in an election campaign – something the RBA was loath to do – shows even it realised it could not hold off dealing with the nation’s inflation issues. The bank has got itself into a real pickle because it misread issues that were visible late last year. That was evident in the statement put out by Lowe after announcing the increase in the cash rate.
rylo75039344 The RBA is LNP corrupt. That's my opinion anyway. A Labor government can blame the next few years rate rises on the LNP because the LNP would blame Labor for the next decade if the shoe was on the other foot.
They should have raised rates back in October 2021 when FOMO was driving property prices up dramatically. Maybe this will settle things down a little.
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