Why the RBA is playing with fire with interest rates set to keep rising in 2023

Late last November, Reserve Bank Governor Philip Lowe was forced into a humiliating public apology.

For Dr Lowe, the decision he and his colleagues must make tomorrow and in coming months is, just how deep a recession are they prepared to wear? Most highly paid bank economists are pushing the RBA to maintain the war against inflation and jack up borrowing costs after the December quarter inflation figures showed solid price rises in the services sector of the economy.On the far right are the small proportion of homeowners who would be better off because rates are rising. That's because they are wealthy and have little debt.

Government should ban foreign ownership of property. This is crazy …. Higher interest is causing rent increases which is adding to inflation.

I wish they would just go scorched earth send interest rates through the roof and get it over and done with. Instead of this slow. mech to hell.

The rba was playing with fire when they decided to slash rates to 0% and print money during the pandemic but the shills at the abc got filthy rich from that say there’s no such criticism.

Blame APRA and frydenburg for removing the buffers at his request

Hey Borrowers, the present rate is .85% below the 30yr average...wake up... the days of cheap money are OVER...mortgage

“Our economy is far more sensitive to interest rate movements than almost every other developed nation, primarily because we are world leaders when it comes to household debt.” World leaders aye?! People (zombies) should live within means.

Maybe now all those fools who took out staggering ridiculous loans will understand what interest rate means.

The big 4 Aussie banks increased profits pulling in $28 billion last year. The RBAs not raising the interest rate on their loan, only us pleb public .

Because the have no choice. Someone has to try to stop rising inflation, and with government preoccupied with dividing Australia along racial lines, RBA rising interest rates is the only option. The outcome of it is going to be a recession, one of those “we have to have”.

Who knew ridiculously low interest rates couldn't stay there forever? Sucker born every minute.

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Source: 7NewsMelbourne - 🏆 18. / 59 Read more »