Sky News Business Editor Ross Greenwood says the Australian dollar jumped to a five-month high today.“The dollar rebounded on the better outlook for trade with China. “But more particularly because of the higher than expected inflation rate, which all but assures further interest rate rises.
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‘Real pressure’ on the RBA to ‘go hard on interest rates’Sky News Business Editor Ross Greenwood says the reality is, with annual inflation higher than expected, there’s a “real pressure” on the Reserve Bank to “go hard on interest rates”. The annual inflation released on Wednesday revealed that it now sits at 7.8 per cent. “These higher interest rates for many families means that at some point during 2023, there’s almost a brick wall or a cliff if you like that the families is going to hit which could curb their spending which then affects the overall economy,” Mr Greenwood told Sky News host Andrew Bolt. “That’s the grave fear of having this inflation higher for longer and then the Reserve Bank being forced to raise interest rates higher than what they otherwise might have.” not a word about robodebt If people were not in so much debt because they were foolish and self-indulgent inflation would not be such a problem. Go hard or go home
Source: SkyNewsAust - 🏆 7. / 78 Read more »