The bureau divides the 87 classes of goods into "non-discretionary" and "discretionary".
In the year to March, non-discretionary inflation was a gargantuan 6.6 per cent – well above the official inflation rate of 5.1 per cent, and the highest in records going back to 2006. But this hike in inflation is doing that by itself, as the government recognised in the budget by handing out $250 cash payments to compensate.If the big price rises are beyond our control and making us poorer, hiking interest rates to make us poorer still, in the hope we will splurge less on things whose prices we can influence might not achieve much.
After 9 years of Liberal government a recession would have to be Labor’s fault ChuckThemOut
Jesus, interest rates have been a record low for over 10 years. The Economy is overheating. This has to happen to cool the economy off ffs 🤦♂️. My parents live through interest rates at 17%
Pretty sure careful is what the RBA does.
Raising interest rates is a sign the economy is good.
doubly so because the inflation is NOT due to overspending but due to a war and covid and other issues .... so increasing interest rates will NOT FIX inflation this time ...
Morrison lies. The Reserve Bank does what the Government wants. The government is in control. Additionally, the Government sets fiscal policy, and it controls wage levels.🙄💩🇺🇦🇦🇫 HomeToBilo
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